U.S. Bancorp (NYSE:USB) Holdings Raised by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,941,642 shares of the financial services provider’s stock after purchasing an additional 264,264 shares during the quarter. Van ECK Associates Corp’s holdings in U.S. Bancorp were worth $386,994,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Steele Capital Management Inc. bought a new position in U.S. Bancorp in the 4th quarter worth about $433,000. Chase Investment Counsel Corp grew its holdings in U.S. Bancorp by 14.1% in the 4th quarter. Chase Investment Counsel Corp now owns 8,755 shares of the financial services provider’s stock worth $378,000 after buying an additional 1,080 shares in the last quarter. Gilbert & Cook Inc. increased its position in U.S. Bancorp by 4.0% in the 4th quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock valued at $670,000 after acquiring an additional 593 shares during the period. Marco Investment Management LLC raised its stake in U.S. Bancorp by 3.5% during the 4th quarter. Marco Investment Management LLC now owns 9,436 shares of the financial services provider’s stock valued at $408,000 after acquiring an additional 321 shares in the last quarter. Finally, Paradigm Financial Partners LLC boosted its position in U.S. Bancorp by 1.2% during the 4th quarter. Paradigm Financial Partners LLC now owns 33,258 shares of the financial services provider’s stock worth $1,439,000 after acquiring an additional 395 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Evercore ISI lifted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Finally, Morgan Stanley boosted their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.14.

U.S. Bancorp Trading Up 0.4 %

Shares of NYSE:USB traded up $0.18 during mid-day trading on Monday, hitting $41.30. The stock had a trading volume of 4,648,438 shares, compared to its average volume of 8,657,484. The company’s 50 day moving average is $42.34 and its 200-day moving average is $40.21. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market cap of $64.35 billion, a PE ratio of 13.68, a P/E/G ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Activity

In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.