First Eagle Investment Management LLC Acquires 45,066 Shares of U.S. Bancorp $USB

First Eagle Investment Management LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,818,344 shares of the financial services provider’s stock after acquiring an additional 45,066 shares during the period. First Eagle Investment Management LLC’s holdings in U.S. Bancorp were worth $470,547,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Citigroup Inc. lifted its holdings in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after acquiring an additional 47,537 shares during the period. Danske Bank A S bought a new position in shares of U.S. Bancorp during the 3rd quarter worth about $37,162,000. Roman Butler Fullerton & Co. bought a new position in shares of U.S. Bancorp during the 3rd quarter worth about $893,000. Finally, Nordea Investment Management AB lifted its holdings in shares of U.S. Bancorp by 15.3% during the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock worth $144,462,000 after acquiring an additional 357,300 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Trading Down 1.9%

USB opened at $54.47 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $84.55 billion, a PE ratio of 11.42, a PEG ratio of 1.00 and a beta of 1.00. U.S. Bancorp has a 1-year low of $42.21 and a 1-year high of $61.19. The firm has a 50-day moving average price of $53.99 and a two-hundred day moving average price of $53.27.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm 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. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp’s payout ratio is currently 43.61%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on USB shares. Evercore raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Finally, Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

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.