U.S. Bancorp (NYSE:USB) Shares Bought by Secure Asset Management LLC

Secure Asset Management LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,510 shares of the financial services provider’s stock after purchasing an additional 289 shares during the period. Secure Asset Management LLC’s holdings in U.S. Bancorp were worth $455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. State Street Corp grew its stake in U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after acquiring an additional 819,805 shares during the period. FMR LLC grew its position in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 1.2 %

Shares of USB opened at $49.00 on Friday. The company’s 50-day moving average price is $50.01 and its 200 day moving average price is $47.04. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market cap of $76.43 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.08%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. Oppenheimer boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Evercore ISI raised their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.21.

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.