VeraBank N.A. Buys 19,254 Shares of U.S. Bancorp $USB

VeraBank N.A. increased its stake in U.S. Bancorp (NYSE:USB) by 164.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,971 shares of the financial services provider’s stock after acquiring an additional 19,254 shares during the period. VeraBank N.A.’s holdings in U.S. Bancorp were worth $1,401,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. purchased a new stake in U.S. Bancorp during the second quarter valued at about $25,000. Saudi Central Bank purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $26,000. Activest Wealth Management increased its stake in U.S. Bancorp by 846.5% in the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the period. Groupe la Francaise bought a new stake in U.S. Bancorp in the first quarter valued at approximately $41,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 118.4% during the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 535 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on USB shares. The Goldman Sachs Group set a $52.00 target price on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Truist Financial raised their target price on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. TD Cowen increased their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Evercore ISI boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Trading Up 0.5%

Shares of NYSE USB opened at $47.58 on Tuesday. The firm’s 50 day moving average price is $47.93 and its 200-day moving average price is $45.94. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $73.96 billion, a PE ratio of 10.89, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

U.S. Bancorp 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.