Romano Brothers AND Company Takes $228,000 Position in U.S. Bancorp (NYSE:USB)

Posted by on Mar 26th, 2023

Romano Brothers AND Company purchased a new stake in U.S. Bancorp (NYSE:USB – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,229 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other hedge funds have also added to or reduced their stakes in the business. Maryland State Retirement & Pension System acquired a new stake in U.S. Bancorp during the 4th quarter worth $4,605,000. Sequoia Financial Advisors LLC raised its stake in U.S. Bancorp by 47.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 191,196 shares of the financial services provider’s stock worth $8,338,000 after buying an additional 61,710 shares during the period. Exchange Traded Concepts LLC raised its stake in U.S. Bancorp by 16.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 287,421 shares of the financial services provider’s stock worth $12,534,000 after buying an additional 39,971 shares during the period. Czech National Bank raised its stake in U.S. Bancorp by 0.8% during the 4th quarter. Czech National Bank now owns 158,301 shares of the financial services provider’s stock worth $6,904,000 after buying an additional 1,327 shares during the period. Finally, Diversified Trust Co raised its stake in U.S. Bancorp by 187.0% during the 4th quarter. Diversified Trust Co now owns 17,398 shares of the financial services provider’s stock worth $759,000 after buying an additional 11,336 shares during the period. Institutional investors and hedge funds own 71.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on USB. Oppenheimer dropped their price objective on U.S. Bancorp from $77.00 to $64.00 and set an “outperform” rating on the stock in a research note on Thursday. Royal Bank of Canada lowered their target price on U.S. Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Friday. The Goldman Sachs Group began coverage on U.S. Bancorp in a report on Sunday, February 26th. They set a “neutral” rating for the company. DA Davidson began coverage on U.S. Bancorp in a report on Tuesday, December 20th. They set a “neutral” rating and a $47.00 target price for the company. Finally, Credit Suisse Group increased their target price on U.S. Bancorp from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.42.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $34.90 on Friday. The stock has a market capitalization of $53.46 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 1.08 and a beta of 0.98. The business has a 50-day moving average of $45.23 and a 200-day moving average of $44.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.79 and a quick ratio of 0.78. U.S. Bancorp has a fifty-two week low of $32.72 and a fifty-two week high of $57.92.

U.S. Bancorp (NYSE:USB – Get Rating) last issued its earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. U.S. Bancorp had a net margin of 21.26% and a return on equity of 16.13%. The business had revenue of $6.37 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same period last year, the business posted $1.07 EPS. U.S. Bancorp’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 4.97 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be paid a $0.48 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.92 annualized dividend and a yield of 5.50%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 51.75%.

About U.S. Bancorp

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Get Rating).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.