Comerica Bank Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Posted by Defense World Staff on Apr 9th, 2023

U.S. Bancorp logo Comerica Bank boosted its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,951 shares of the financial services provider’s stock after purchasing an additional 10,503 shares during the quarter. Comerica Bank’s holdings in U.S. Bancorp were worth $10,672,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of USB. Federated Hermes Inc. lifted its holdings in shares of U.S. Bancorp by 89.0% in the 2nd quarter. Federated Hermes Inc. now owns 5,621,335 shares of the financial services provider’s stock valued at $258,694,000 after acquiring an additional 2,646,898 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of U.S. Bancorp by 100.5% during the 3rd quarter. Renaissance Technologies LLC now owns 5,262,600 shares of the financial services provider’s stock valued at $212,188,000 after purchasing an additional 2,637,400 shares during the last quarter. Balyasny Asset Management LLC purchased a new stake in U.S. Bancorp during the 3rd quarter valued at $95,568,000. Two Sigma Investments LP lifted its position in U.S. Bancorp by 197.9% in the third quarter. Two Sigma Investments LP now owns 3,081,787 shares of the financial services provider’s stock worth $124,258,000 after buying an additional 2,047,150 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock worth $1,172,115,000 after buying an additional 1,622,711 shares during the period. Institutional investors own 71.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on USB. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, April 3rd. Citigroup increased their price target on U.S. Bancorp from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Friday, January 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on U.S. Bancorp from $60.00 to $52.00 in a report on Friday, January 6th. Keefe, Bruyette & Woods upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $58.00 in a research report on Monday, December 12th. Finally, Piper Sandler lowered their price objective on shares of U.S. Bancorp from $57.00 to $53.00 in a research report on Friday, March 10th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.68.

U.S. Bancorp Stock Performance

Shares of USB opened at $35.75 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. The firm has a market cap of $54.76 billion, a PE ratio of 9.64, a P/E/G ratio of 1.11 and a beta of 0.93. The stock has a fifty day moving average price of $42.86 and a 200-day moving average price of $43.33. U.S. Bancorp has a 12 month low of $32.72 and a 12 month high of $53.88.

U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.11 by $0.09. The firm had revenue of $6.37 billion during the quarter, compared to analyst estimates of $6.61 billion. U.S. Bancorp had a net margin of 21.26% and a return on equity of 16.13%. U.S. Bancorp’s revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.07 EPS. Equities research analysts predict that U.S. Bancorp will post 4.86 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 dividend on an annualized basis and a yield of 5.37%. U.S. Bancorp’s dividend payout ratio (DPR) is 51.75%.

U.S. Bancorp Company Profile

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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.