Intact Investment Management Inc. Purchases 69,300 Shares of U.S. Bancorp (NYSE:USB)

Intact Investment Management Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 62.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,000 shares of the financial services provider’s stock after acquiring an additional 69,300 shares during the period. Intact Investment Management Inc.’s holdings in U.S. Bancorp were worth $7,642,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. FIL Ltd boosted its holdings in U.S. Bancorp by 42.0% during the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 8,542 shares during the period. Wesbanco Bank Inc. boosted its holdings in U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after acquiring an additional 78,146 shares during the period. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp boosted its holdings in U.S. Bancorp by 36.9% during the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock valued at $55,427,000 after acquiring an additional 312,504 shares during the period. Finally, Becker Capital Management Inc. boosted its holdings in U.S. Bancorp by 1.5% during the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider’s stock valued at $27,069,000 after acquiring an additional 8,204 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $43.34 on Friday. The firm has a market cap of $67.53 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.63 and a beta of 0.99. The company has a 50 day moving average of $42.25 and a 200-day moving average of $44.73. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s payout ratio is 49.50%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on USB shares. Evercore ISI increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, June 4th. Cowen started coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a “buy” rating for the company. Wells Fargo & Company reduced their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. TD Cowen started coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Truist Financial reduced their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $50.72.

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.