IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Stake in U.S. Bancorp (NYSE:USB)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,472 shares of the financial services provider’s stock after acquiring an additional 1,967 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in U.S. Bancorp were worth $3,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth $1,018,000. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 0.8% during 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 during the last quarter. M&T Bank Corp raised its holdings in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after buying an additional 22,803 shares during the period. D.A. Davidson & CO. lifted its position in U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after buying an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. boosted its stake in U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after buying an additional 16,552 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.1 %

NYSE USB opened at $43.74 on Thursday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The firm has a 50-day moving average price of $45.96 and a 200 day moving average price of $47.60. The stock has a market capitalization of $68.15 billion, a P/E ratio of 11.54, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results 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. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. U.S. Bancorp’s payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. Compass Point lifted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley reduced their price target 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. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $53.48.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. 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. 0.23% of the stock is currently owned by company insiders.

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.