U.S. Bancorp (NYSE:USB) Stock Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 8.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,719,110 shares of the financial services provider’s stock after acquiring an additional 2,598,163 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in U.S. Bancorp were worth $1,459,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Scotia Capital Inc. raised its holdings in shares of U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after purchasing an additional 990 shares in the last quarter. Spinnaker Trust purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $220,000. Tealwood Asset Management Inc. boosted its stake in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after purchasing an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp during the fourth quarter valued at $4,073,000. Finally, abrdn plc lifted its position in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after purchasing an additional 272,976 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Evercore ISI lifted their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, Morgan Stanley increased their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.02.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.20 during midday trading on Wednesday, reaching $41.38. The stock had a trading volume of 4,093,520 shares, compared to its average volume of 8,495,938. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $64.57 billion, a PE ratio of 13.67, a P/E/G ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a 12 month low of $28.53 and a 12 month high of $45.85. The firm’s 50-day moving average price is $42.35 and its 200 day moving average price is $40.64.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business earned $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

U.S. Bancorp 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.