U.S. Bancorp $USB Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its position in shares of U.S. Bancorp (NYSE:USB) by 141.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 147,313 shares of the financial services provider’s stock after buying an additional 86,230 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in U.S. Bancorp were worth $7,861,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after purchasing an additional 41,803 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in U.S. Bancorp by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after purchasing an additional 47,537 shares during the last quarter. Danske Bank A S purchased a new position in U.S. Bancorp in the third quarter valued at about $37,162,000. Synergy Asset Management LLC raised its stake in U.S. Bancorp by 100.0% during the third quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after buying an additional 59,981 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its stake in U.S. Bancorp by 757.8% during the third quarter. SteelPeak Wealth LLC now owns 176,500 shares of the financial services provider’s stock valued at $8,622,000 after buying an additional 155,925 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.5%

Shares of NYSE USB opened at $56.36 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $54.10 and its two-hundred day moving average price is $52.87. The stock has a market capitalization of $87.48 billion, a P/E ratio of 11.81, a PEG ratio of 1.02 and a beta of 1.00. U.S. Bancorp has a 52-week low of $40.75 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. On average, analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Argus upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Truist Financial cut their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Evercore upped their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Finally, Keefe, Bruyette & Woods upped their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following 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. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

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.