NFJ Investment Group LLC Has $35.84 Million Holdings in U.S. Bancorp (NYSE:USB)

NFJ Investment Group LLC lowered its position in U.S. Bancorp (NYSE:USB) by 8.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 749,324 shares of the financial services provider’s stock after selling 67,180 shares during the period. U.S. Bancorp accounts for approximately 1.2% of NFJ Investment Group LLC’s portfolio, making the stock its 18th largest position. NFJ Investment Group LLC’s holdings in U.S. Bancorp were worth $35,840,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after buying an additional 1,079,056 shares during the period. FMR LLC lifted its stake in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC grew its stake in U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after purchasing an additional 850,763 shares during the period. Finally, Amundi increased its holdings in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Thursday, April 3rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.52.

U.S. Bancorp Trading Up 1.1 %

Shares of USB stock opened at $38.62 on Wednesday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a 50-day simple moving average of $43.10 and a two-hundred day simple moving average of $46.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company posted $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

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.