Minneapolis Portfolio Management Group LLC Boosts Stake in U.S. Bancorp (NYSE:USB)

Minneapolis Portfolio Management Group LLC lifted its position in U.S. Bancorp (NYSE:USB) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 575,015 shares of the financial services provider’s stock after buying an additional 3,532 shares during the quarter. U.S. Bancorp makes up 3.6% of Minneapolis Portfolio Management Group LLC’s investment portfolio, making the stock its 14th largest holding. Minneapolis Portfolio Management Group LLC’s holdings in U.S. Bancorp were worth $27,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares during the period. Raymond James Financial Inc. acquired a new stake in U.S. Bancorp during the 4th quarter valued at $184,733,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $111,274,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on USB shares. Morgan Stanley decreased their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Finally, Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $42.77 on Monday. The company has a market capitalization of $66.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $46.31 and a 200-day moving average price of $47.65. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.68%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.