Lockheed Martin Investment Management Co. Makes New $7.14 Million Investment in U.S. Bancorp $USB

Lockheed Martin Investment Management Co. acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the third quarter, HoldingsChannel.com reports. The fund acquired 147,690 shares of the financial services provider’s stock, valued at approximately $7,138,000.

Several other hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $27,000. Pineridge Advisors LLC grew its stake in shares of U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 522 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new position in U.S. Bancorp during the 3rd quarter valued at approximately $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 1.3%

Shares of U.S. Bancorp stock opened at $56.21 on Friday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $56.70. The firm has a market cap of $87.37 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.00 and a beta of 1.07. The company has a 50-day moving average of $52.40 and a 200 day moving average of $49.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.82.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s payout ratio is presently 47.60%.

Analysts Set New Price Targets

Several research firms have recently issued reports on USB. Argus boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI set a $60.00 price objective on shares of U.S. Bancorp in a research report on Tuesday, January 6th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Truist Financial lifted their target price on shares of U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $58.19.

U.S. Bancorp 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.