Vanguard Group Inc. Buys 1,079,056 Shares of U.S. Bancorp (NYSE:USB)

Vanguard Group Inc. grew its stake in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 138,836,896 shares of the financial services provider’s stock after acquiring an additional 1,079,056 shares during the period. Vanguard Group Inc. owned about 0.09% of U.S. Bancorp worth $6,640,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp increased its position in shares of U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC increased its position in shares of U.S. Bancorp by 32.7% during 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 buying an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 5.2% during the fourth 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 buying an additional 2,460,845 shares during the period. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, Amundi increased its position in shares of U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after buying an additional 1,341,407 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $53.93.

U.S. Bancorp Trading Up 0.4 %

U.S. Bancorp stock opened at $42.77 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a market capitalization 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. The business’s fifty day moving average is $46.31 and its 200 day moving average is $47.65.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Activity

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value 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 $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 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.