Fisher Asset Management LLC Has $245.56 Million Stock Position in U.S. Bancorp $USB

Fisher Asset Management LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,080,941 shares of the financial services provider’s stock after selling 184,911 shares during the quarter. Fisher Asset Management LLC’s holdings in U.S. Bancorp were worth $245,562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Guerra Advisors Inc acquired a new position in U.S. Bancorp during the 3rd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth about $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $27,000. Pineridge Advisors LLC boosted its stake in U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 522 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in U.S. Bancorp in the 3rd quarter valued at approximately $31,000. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on USB shares. Keefe, Bruyette & Woods increased their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. HSBC reissued a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a report on Wednesday, January 7th. Evercore boosted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Stock Performance

NYSE:USB opened at $54.69 on Tuesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm has a 50 day moving average of $56.17 and a 200-day moving average of $51.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $84.98 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 0.98 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the company earned $1.07 EPS. U.S. Bancorp’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.