Strategic Planning Group LLC Increases Stock Position in U.S. Bancorp $USB

Strategic Planning Group LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,788 shares of the financial services provider’s stock after acquiring an additional 16,527 shares during the period. U.S. Bancorp comprises approximately 1.6% of Strategic Planning Group LLC’s portfolio, making the stock its 22nd largest position. Strategic Planning Group LLC’s holdings in U.S. Bancorp were worth $12,475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. SG Americas Securities LLC lifted its position in U.S. Bancorp by 3,451.9% in the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after acquiring an additional 4,210,676 shares during the last quarter. Davis Selected Advisers lifted its position in U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after acquiring an additional 2,610,197 shares during the last quarter. AQR Capital Management LLC lifted its position in U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after acquiring an additional 2,227,103 shares during the last quarter. Vanguard Group Inc. lifted its position in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after acquiring an additional 1,828,404 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in U.S. Bancorp by 16.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock valued at $560,559,000 after acquiring an additional 1,631,550 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Truist Financial reduced their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Argus upped their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. TD Cowen upped their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods upped their target price on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $54.47 on Tuesday. The company has a 50-day simple moving average of $53.99 and a 200-day simple moving average of $53.27. U.S. Bancorp has a one year low of $42.21 and a one year high of $61.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $84.55 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.00 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

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.