Eastern Bank acquired a new stake in U.S. Bancorp (NYSE:USB – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 187,829 shares of the financial services provider’s stock, valued at approximately $8,191,000.
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A number of other institutional investors have also made changes to their positions in USB. Federated Hermes Inc. raised its stake in shares of U.S. Bancorp by 89.0% in the 2nd quarter. Federated Hermes Inc. now owns 5,621,335 shares of the financial services provider’s stock valued at $258,694,000 after acquiring an additional 2,646,898 shares in the last quarter. Renaissance Technologies LLC increased its position in U.S. Bancorp by 100.5% in the 3rd quarter. Renaissance Technologies LLC now owns 5,262,600 shares of the financial services provider’s stock worth $212,188,000 after buying an additional 2,637,400 shares during the period. Balyasny Asset Management LLC bought a new position in U.S. Bancorp in the 3rd quarter worth approximately $95,568,000. Two Sigma Investments LP increased its position in U.S. Bancorp by 197.9% in the 3rd quarter. Two Sigma Investments LP now owns 3,081,787 shares of the financial services provider’s stock worth $124,258,000 after buying an additional 2,047,150 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in U.S. Bancorp by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after buying an additional 1,622,711 shares during the period. 71.83% of the stock is owned by institutional investors.
U.S. Bancorp Price Performance
Shares of USB stock opened at $36.05 on Friday. The stock’s fifty day simple moving average is $44.14 and its 200 day simple moving average is $43.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.79 and a quick ratio of 0.78. The firm has a market cap of $55.22 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 1.10 and a beta of 0.98. U.S. Bancorp has a one year low of $32.72 and a one year high of $57.92.
U.S. Bancorp (NYSE:USB – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The firm had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post 4.95 earnings per share for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a $0.48 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.92 annualized dividend and a yield of 5.33%. U.S. Bancorp’s payout ratio is 51.75%.
Analyst Ratings Changes
USB has been the topic of several recent analyst reports. Credit Suisse Group lifted their price target on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft dropped their price target on U.S. Bancorp from $60.00 to $52.00 in a research report on Friday, January 6th. The Goldman Sachs Group initiated coverage on U.S. Bancorp in a research report on Sunday, February 26th. They issued a “neutral” rating on the stock. UBS Group raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $55.00 in a research report on Tuesday, January 10th. Finally, Keefe, Bruyette & Woods raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $58.00 in a report on Monday, December 12th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $53.42.
U.S. Bancorp Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
Further Reading
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