Minneapolis Portfolio Management Group LLC Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Minneapolis Portfolio Management Group LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 575,015 shares of the financial services provider’s stock after buying an additional 3,532 shares during the period. U.S. Bancorp makes up 3.6% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 14th biggest holding. Minneapolis Portfolio Management Group LLC’s holdings in U.S. Bancorp were worth $27,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. Vanguard Group Inc. boosted its position in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. State Street Corp raised 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 purchasing an additional 819,805 shares during the last quarter. FMR LLC increased its stake in shares of U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after acquiring an additional 2,460,845 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 1.8% in 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 acquiring an additional 599,852 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on USB shares. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Oppenheimer lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $53.93.

U.S. Bancorp Stock Up 0.4 %

USB stock opened at $42.77 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business’s 50-day simple moving average is $46.31 and its 200 day simple moving average is $47.65. The company has a market cap of $66.63 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its 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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.