MGO One Seven LLC Has $3.38 Million Stake in U.S. Bancorp (NYSE:USB)

MGO One Seven LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,562 shares of the financial services provider’s stock after purchasing an additional 4,847 shares during the quarter. MGO One Seven LLC’s holdings in U.S. Bancorp were worth $3,375,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at $777,524,000. Invesco Ltd. increased its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the period. Franklin Resources Inc. lifted its position in shares of U.S. Bancorp by 153.0% in the third 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 in the last quarter. Marshall Wace LLP boosted its holdings in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup decreased their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Truist Financial cut their price target on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Raymond James reissued an “outperform” rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Finally, DA Davidson cut their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $50.66.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $39.50 on Thursday. The company has a market capitalization of $61.54 billion, a P/E ratio of 10.42, a P/E/G ratio of 1.73 and a beta of 0.91. 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 $35.18 and a 12 month high of $53.98. The stock has a 50 day moving average of $42.02 and a two-hundred day moving average of $46.65.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.06%. U.S. Bancorp’s payout ratio is currently 49.50%.

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.