U.S. Bancorp $USB Shares Purchased by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH raised its stake in shares of U.S. Bancorp (NYSE:USB) by 111.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,420 shares of the financial services provider’s stock after purchasing an additional 59,824 shares during the period. Siemens Fonds Invest GmbH’s holdings in U.S. Bancorp were worth $6,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp increased its position in U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares during the last quarter. Geode Capital Management LLC increased its position in U.S. Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Norges Bank acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $1,887,497,000. Finally, Davis Selected Advisers increased its position in U.S. Bancorp by 13.4% during the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Wall Street Zen lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Oppenheimer upped their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Royal Bank Of Canada boosted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. decreased 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 research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $61.29.

U.S. Bancorp Price Performance

USB opened at $58.87 on Wednesday. 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 52-week low of $42.55 and a 52-week high of $61.19. The company has a 50 day moving average of $55.46 and a two-hundred day moving average of $54.71. The company has a market cap of $91.32 billion, a P/E ratio of 12.34, a P/E/G ratio of 1.04 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the previous year, the firm earned $1.03 earnings per share. U.S. Bancorp’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 5.07 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s payout ratio is currently 43.61%.

Insider Activity 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 completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were 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 owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% 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 owned by 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.