Mediolanum International Funds Ltd Increases Stake in U.S. Bancorp (NYSE:USB)

Mediolanum International Funds Ltd raised its position in U.S. Bancorp (NYSE:USB) by 53.8% during the first quarter, HoldingsChannel reports. The firm owned 50,092 shares of the financial services provider’s stock after purchasing an additional 17,529 shares during the period. Mediolanum International Funds Ltd’s holdings in U.S. Bancorp were worth $2,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. FIL Ltd lifted its stake in shares of U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock worth $13,724,000 after buying an additional 78,146 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after buying an additional 649 shares in the last quarter. Becker Capital Management Inc. lifted its stake in shares of U.S. Bancorp by 1.5% in the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider’s stock worth $27,069,000 after buying an additional 8,204 shares in the last quarter. Finally, United Community Bank lifted its stake in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock worth $2,072,000 after buying an additional 8,796 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, EVP Souheil Badran sold 23,727 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president directly owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 0.5%

Shares of NYSE:USB opened at $46.09 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $71.81 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99. The firm’s 50-day moving average is $45.02 and its two-hundred day moving average is $44.15. 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 issued its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.34%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.85%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on USB. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Evercore ISI lifted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. Piper Sandler reduced their price target on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $51.00 to $57.00 in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

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.