U.S. Bancorp $USB Stock Position Lifted by Focused Alpha LLC

Focused Alpha LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 269.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,716 shares of the financial services provider’s stock after acquiring an additional 9,274 shares during the quarter. Focused Alpha LLC’s holdings in U.S. Bancorp were worth $734,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Mufg Bank LTD. purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $2,680,199,000. Bank of America Corp DE grew its holdings in shares of U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after acquiring an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $536,457,000. Finally, First Trust Advisors LP increased its stake in shares of U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on USB. JPMorgan Chase & Co. reduced their price objective on U.S. Bancorp from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Robert W. Baird upped their target price on U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. HSBC upped their target price on U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Truist Financial cut their price target on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Finally, Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price target for the company from $60.00 to $75.00 in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $68.43.

U.S. Bancorp Trading Down 1.5%

U.S. Bancorp stock opened at $57.87 on Tuesday. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $90.16 billion, a PE ratio of 11.45, a PEG ratio of 1.09 and a beta of 1.00. The business’s 50-day simple moving average is $60.69 and its 200-day simple moving average is $59.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. U.S. Bancorp’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 5.28 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.