DAVENPORT & Co LLC Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

DAVENPORT & Co LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 10.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 191,691 shares of the financial services provider’s stock after purchasing an additional 17,434 shares during the period. DAVENPORT & Co LLC’s holdings in U.S. Bancorp were worth $9,169,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its holdings 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 worth $2,922,784,000 after buying an additional 15,746,852 shares during the period. Franklin Resources Inc. lifted its stake in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in U.S. Bancorp by 109.7% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after purchasing an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 3.9% in 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. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 0.3 %

Shares of NYSE:USB opened at $47.84 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business has a 50 day moving average of $49.71 and a two-hundred day moving average of $47.37. The company has a market capitalization of $74.63 billion, a PE ratio of 12.62, a PEG ratio of 1.77 and a beta of 1.05.

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 the consensus estimate 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on USB. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Truist Financial started coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.