U.S. Bancorp $USB Stock: Ethic Inc. Decreases Stake

Ethic Inc. cut its holdings in U.S. Bancorp (NYSE:USB) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,413 shares of the financial services provider’s stock after selling 9,696 shares during the quarter. Ethic Inc.’s holdings in U.S. Bancorp were worth $15,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. StoneX Group Inc. increased its holdings in U.S. Bancorp by 2.4% during the third quarter. StoneX Group Inc. now owns 50,515 shares of the financial services provider’s stock valued at $2,944,000 after buying an additional 1,165 shares during the period. Pictet Asset Management Holding SA lifted its holdings in U.S. Bancorp by 17.5% during the third quarter. Pictet Asset Management Holding SA now owns 1,064,227 shares of the financial services provider’s stock worth $61,470,000 after buying an additional 158,338 shares during the period. Parallel Advisors LLC lifted its holdings in U.S. Bancorp by 2.8% during the third quarter. Parallel Advisors LLC now owns 20,748 shares of the financial services provider’s stock worth $1,198,000 after buying an additional 557 shares during the period. Ashton Thomas Private Wealth LLC lifted its holdings in U.S. Bancorp by 3.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 37,645 shares of the financial services provider’s stock worth $2,174,000 after buying an additional 1,082 shares during the period. Finally, CenterBook Partners LP bought a new stake in U.S. Bancorp during the 3rd quarter valued at $5,426,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 0.4%

NYSE USB opened at $59.49 on Friday. The company has a fifty day simple moving average of $59.65 and a two-hundred day simple moving average of $58.18. The stock has a market cap of $92.68 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.13 and a beta of 1.02. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. On average, analysts forecast that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company 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 a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

USB has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, July 17th. BTIG Research set a $67.50 price target on U.S. Bancorp in a research report on Monday, July 20th. Truist Financial decreased their price objective on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $65.00 to $65.50 and gave the company a “neutral” rating in a research report on Friday, October 30th. Finally, Wolfe Research began coverage on U.S. Bancorp in a research report on Tuesday, October 27th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.65.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.