NEOS Investment Management LLC Has $10.21 Million Stock Position in U.S. Bancorp $USB

NEOS Investment Management LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 46.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,205 shares of the financial services provider’s stock after buying an additional 66,814 shares during the period. NEOS Investment Management LLC’s holdings in U.S. Bancorp were worth $10,208,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of USB. Wealthcare Advisory Partners LLC grew its stake in shares of U.S. Bancorp by 0.9% in the third quarter. Wealthcare Advisory Partners LLC now owns 35,054 shares of the financial services provider’s stock worth $1,694,000 after acquiring an additional 298 shares during the last quarter. Summitry LLC boosted its holdings in U.S. Bancorp by 6.8% in the 3rd quarter. Summitry LLC now owns 140,580 shares of the financial services provider’s stock valued at $6,794,000 after purchasing an additional 9,008 shares during the period. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock valued at $6,986,023,000 after purchasing an additional 1,279,104 shares during the period. Smithfield Trust Co grew its position in U.S. Bancorp by 2,543.2% in the 3rd quarter. Smithfield Trust Co now owns 1,956 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 1,882 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of U.S. Bancorp by 3.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 523,423 shares of the financial services provider’s stock worth $25,297,000 after purchasing an additional 15,822 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on USB. Wolfe Research cut shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Truist Financial raised their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. UBS Group restated a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.79.

Insider Buying and Selling

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $58.16 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $90.41 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 1.06. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The stock has a 50-day simple moving average of $55.68 and a 200 day simple moving average of $50.56.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the business earned $1.07 earnings per share. U.S. Bancorp’s quarterly revenue was up 5.1% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.