Kornitzer Capital Management Inc. KS Has $2.56 Million Stock Holdings in U.S. Bancorp $USB

Kornitzer Capital Management Inc. KS trimmed its position in U.S. Bancorp (NYSE:USB) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,599 shares of the financial services provider’s stock after selling 300 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in U.S. Bancorp were worth $2,561,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the last quarter. GAMMA Investing LLC boosted its position in U.S. Bancorp by 0.9% in the first quarter. GAMMA Investing LLC now owns 36,656 shares of the financial services provider’s stock valued at $1,548,000 after buying an additional 333 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.3% during the first quarter. Highland Capital Management LLC now owns 65,244 shares of the financial services provider’s stock worth $2,755,000 after buying an additional 829 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of U.S. Bancorp by 2.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,591,115 shares of the financial services provider’s stock worth $151,617,000 after buying an additional 97,444 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of U.S. Bancorp by 19.1% in the 1st quarter. Joel Isaacson & Co. LLC now owns 6,698 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.31 on Monday. The stock’s 50 day moving average is $48.10 and its 200 day moving average is $45.23. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market cap of $75.17 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.29 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a dividend of $0.52 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s payout ratio is 47.60%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on USB shares. Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $51.00 to $57.00 in a research report on Monday, July 7th. Bank of America boosted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a research note on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Friday. Finally, Truist Financial upped their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell 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 $54.55.

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.