U.S. Bancorp $USB Position Increased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 83.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,562 shares of the financial services provider’s stock after buying an additional 712 shares during the quarter. Princeton Global Asset Management LLC’s holdings in U.S. Bancorp were worth $71,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. Amundi grew its stake in U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after buying an additional 422,050 shares during the last quarter. Davis Selected Advisers increased its position in U.S. Bancorp by 3.6% in the first quarter. Davis Selected Advisers now owns 14,889,014 shares of the financial services provider’s stock worth $628,614,000 after buying an additional 513,875 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in U.S. Bancorp by 0.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock worth $535,312,000 after buying an additional 104,185 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

USB has been the topic of a number of analyst reports. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Monday. Bank of America increased their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday. Finally, Truist Financial lifted their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.48.

U.S. Bancorp Price Performance

NYSE USB opened at $47.10 on Tuesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $73.29 billion, a PE ratio of 10.78, a P/E/G ratio of 1.31 and a beta of 1.06. The company’s 50 day simple moving average is $47.98 and its 200 day simple moving average is $44.94. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.