U.S. Bancorp (NYSE:USB) Holdings Lifted by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in U.S. Bancorp (NYSE:USB) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,179 shares of the financial services provider’s stock after acquiring an additional 4,384 shares during the period. Citizens Financial Group Inc. RI’s holdings in U.S. Bancorp were worth $2,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of USB. Westend Capital Management LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth approximately $27,000. REAP Financial Group LLC lifted its position in U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after buying an additional 297 shares in the last quarter. YANKCOM Partnership boosted its stake in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock valued at $29,000 after buying an additional 260 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $30,000. Finally, Rakuten Securities Inc. increased its stake in shares of U.S. Bancorp by 1,212.1% in the first quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 703 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB opened at $44.45 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock’s 50 day moving average price is $45.24 and its two-hundred day moving average price is $44.02. The firm has a market capitalization of $69.26 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its 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 business 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%. U.S. Bancorp’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given 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 4.5%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.85%.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Truist Financial raised their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. The Goldman Sachs Group lifted their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Finally, Citigroup increased their price target on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the company’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares of the company’s stock, valued at $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

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.