U.S. Bancorp $USB Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 209,728 shares of the financial services provider’s stock after acquiring an additional 10,389 shares during the period. Sterling Capital Management LLC’s holdings in U.S. Bancorp were worth $12,114,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in USB. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the first quarter worth about $27,000. Main Street Group LTD bought a new position in U.S. Bancorp in the 1st quarter valued at about $28,000. Archer Investment Corp acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $29,000. Parvin Asset Management LLC bought a new stake in U.S. Bancorp during the 2nd quarter worth approximately $30,000. Finally, NFSG Corp purchased a new stake in shares of U.S. Bancorp in the first quarter worth approximately $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

NYSE USB traded down $0.43 during trading on Friday, reaching $59.59. The company’s stock had a trading volume of 5,627,024 shares, compared to its average volume of 8,360,263. The firm has a fifty day moving average of $60.25 and a 200 day moving average of $59.25. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The stock has a market capitalization of $92.84 billion, a PE ratio of 11.62, a P/E/G ratio of 1.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter last year, the company posted $1.22 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp’s payout ratio is 42.11%.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Truist Financial lowered their price target on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, October 1st. Oppenheimer boosted their target price on U.S. Bancorp from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, October 16th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup decreased their price target on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, October 16th. Finally, TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $69.19.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.