United Community Bank Boosts Stake in U.S. Bancorp (NYSE:USB)

United Community Bank increased its position in shares of U.S. Bancorp (NYSE:USB) by 21.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,066 shares of the financial services provider’s stock after purchasing an additional 8,796 shares during the quarter. U.S. Bancorp accounts for 0.8% of United Community Bank’s investment portfolio, making the stock its 28th biggest holding. United Community Bank’s holdings in U.S. Bancorp were worth $2,072,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in U.S. Bancorp in the first quarter valued at $27,000. YANKCOM Partnership boosted its position in shares of U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp in the first quarter worth about $30,000. Finally, Millstone Evans Group LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on USB shares. Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a report on Thursday, April 3rd. Morgan Stanley increased their price target on U.S. Bancorp from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 3rd. Truist Financial raised their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Finally, DA Davidson reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.70.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director directly owned 15,000 shares of the company’s stock, valued at $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

USB stock opened at $47.13 on Monday. The firm has a market cap of $73.43 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 1.78 and a beta of 0.99. The company has a quick ratio of 0.80, a current 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 company’s fifty day simple moving average is $44.39 and its 200 day simple moving average is $44.32.

U.S. Bancorp (NYSE:USB) last posted its 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 15.70% and a return on equity of 13.02%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the business posted $0.78 EPS. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s payout ratio is currently 49.50%.

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.