Brookmont Capital Management Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Brookmont Capital Management lessened its holdings in U.S. Bancorp (NYSE:USB) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 73,697 shares of the financial services provider’s stock after selling 3,756 shares during the quarter. U.S. Bancorp makes up about 1.9% of Brookmont Capital Management’s holdings, making the stock its 18th largest holding. Brookmont Capital Management’s holdings in U.S. Bancorp were worth $3,525,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in 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 acquiring an additional 819,805 shares during the last quarter. FMR LLC lifted its position in 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 acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $2,164,350,000 after acquiring an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 acquiring an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after buying an additional 325,374 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on USB shares. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Finally, Morgan Stanley decreased their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Up 0.8 %

USB stock opened at $48.40 on Tuesday. The firm has a market cap of $75.50 billion, a PE ratio of 12.77, a P/E/G ratio of 1.80 and a beta of 1.05. 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 firm’s fifty day moving average is $50.18 and its 200 day moving average is $46.88. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping 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 business 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 earned $0.99 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 4.35 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. U.S. Bancorp’s payout ratio is currently 52.77%.

U.S. Bancorp Company 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.