General Partner Inc. Purchases Shares of 890 U.S. Bancorp (NYSE:USB)

Posted by Defense World Staff on Mar 18th, 2023

U.S. Bancorp logo General Partner Inc. purchased a new stake in U.S. Bancorp (NYSE:USB – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 890 shares of the financial services provider’s stock, valued at approximately $39,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 115,121,643 shares of the financial services provider’s stock worth $4,641,705,000 after buying an additional 1,441,430 shares during the last quarter. State Street Corp increased its holdings in shares of U.S. Bancorp by 0.4% during the 3rd quarter. State Street Corp now owns 58,898,088 shares of the financial services provider’s stock worth $2,402,820,000 after buying an additional 210,054 shares during the last quarter. FMR LLC boosted its position in U.S. Bancorp by 32.0% during the 2nd quarter. FMR LLC now owns 23,223,435 shares of the financial services provider’s stock worth $1,068,742,000 after purchasing an additional 5,628,247 shares during the period. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after purchasing an additional 1,622,711 shares during the period. Finally, Northern Trust Corp raised its position in U.S. Bancorp by 1.7% in the first quarter. Northern Trust Corp now owns 17,793,541 shares of the financial services provider’s stock valued at $945,727,000 after purchasing an additional 303,443 shares during the period. 71.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. UBS Group raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $47.00 to $55.00 in a research report on Tuesday, January 10th. StockNews.com began coverage on U.S. Bancorp in a research report on Thursday. They issued a “hold” rating on the stock. Citigroup raised their target price on U.S. Bancorp from $50.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, January 27th. Deutsche Bank Aktiengesellschaft lowered their target price on U.S. Bancorp from $60.00 to $52.00 in a research note on Friday, January 6th. Finally, Piper Sandler lowered their target price on U.S. Bancorp from $57.00 to $53.00 in a research note on Friday, March 10th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $54.83.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $32.95 on Friday. The firm’s 50-day moving average price is $46.40 and its two-hundred day moving average price is $44.43. The stock has a market capitalization of $50.47 billion, a P/E ratio of 8.88, a P/E/G ratio of 1.15 and a beta of 0.98. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a 52-week low of $32.72 and a 52-week high of $57.92.

U.S. Bancorp (NYSE:USB – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. The company had revenue of $6.37 billion for the quarter, compared to analysts’ expectations of $6.61 billion. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 5.01 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.83%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 51.75%.

About U.S. Bancorp

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.