Mediolanum International Funds Ltd Increases Position in U.S. Bancorp $USB

Mediolanum International Funds Ltd boosted its position in U.S. Bancorp (NYSE:USB) by 21.1% during the first quarter, Holdings Channel reports. The fund owned 449,042 shares of the financial services provider’s stock after acquiring an additional 78,338 shares during the period. Mediolanum International Funds Ltd’s holdings in U.S. Bancorp were worth $22,847,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in USB. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at about $27,000. Main Street Group LTD purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at about $28,000. Rossby Financial LCC lifted its position in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after buying an additional 212 shares during the last quarter. Finally, NFSG Corp bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm’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 sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $63.14 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.83. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The stock has a 50 day moving average price of $57.89 and a two-hundred day moving average price of $56.08. The company has a market capitalization of $97.93 billion, a P/E ratio of 12.60, a PEG ratio of 1.08 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter last year, the business earned $1.11 earnings per share. Analysts expect that U.S. Bancorp will post 5.18 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is presently 43.61%.

More U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: U.S. Bancorp posted Q2 earnings of $1.35 per share on revenue of $7.71 billion, both above estimates, with record quarterly revenue driven by loan growth, fee income, and a boost from its BTIG acquisition. U.S. Bancorp Q2 Earnings Beat Estimates on NII & Fee Revenue Growth
• Positive Sentiment: Management raised full-year revenue guidance to a 7% to 9% growth range, signaling confidence that momentum from higher net interest income and fee revenue will continue. Is USB’s Stronger Outlook And BTIG Fee Push Altering The Investment Case For U.S. Bancorp (USB)?
• Positive Sentiment: Several firms lifted price targets after the earnings release, including Oppenheimer, Wells Fargo, Truist, RBC, and Baird, reflecting improved sentiment around USB’s outlook. US Bancorp analysts boost their forecasts after upbeat Q2 results

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday. DA Davidson increased their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley lifted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $66.52.

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.