U.S. Bancorp $USB Position Boosted by Prudential PLC

Prudential PLC increased its holdings in U.S. Bancorp (NYSE:USB) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 100,816 shares of the financial services provider’s stock after purchasing an additional 12,468 shares during the quarter. Prudential PLC’s holdings in U.S. Bancorp were worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Paulson Wealth Management Inc. grew its holdings in U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after buying an additional 173 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after buying an additional 184 shares in the last quarter. Flputnam Investment Management Co. grew its holdings in U.S. Bancorp by 1.4% in the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock worth $732,000 after buying an additional 186 shares in the last quarter. Genesis Private Wealth LLC lifted its position in U.S. Bancorp by 2.3% in the fourth quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 187 shares during the period. Finally, RiverFront Investment Group LLC lifted its position in U.S. Bancorp by 3.0% in the fourth quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 196 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $55.70 on Friday. The company’s fifty day moving average is $54.71 and its two-hundred day moving average is $54.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The company has a market cap of $86.39 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Truist Financial cut their target price on 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. Jefferies Financial Group restated a “hold” rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

U.S. Bancorp Profile

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.