Invesco Ltd. Boosts Stake in U.S. Bancorp (NYSE:USB)

Invesco Ltd. increased its position in shares of U.S. Bancorp (NYSE:USBGet Rating) by 50.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,856,817 shares of the financial services provider’s stock after buying an additional 3,295,524 shares during the quarter. Invesco Ltd. owned about 0.66% of U.S. Bancorp worth $523,890,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in U.S. Bancorp by 2.6% during the fourth quarter. International Assets Investment Management LLC now owns 6,671 shares of the financial services provider’s stock worth $270,000 after buying an additional 172 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of U.S. Bancorp by 2.3% during the 4th quarter. First Affirmative Financial Network now owns 7,567 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 172 shares in the last quarter. Lcnb Corp grew its holdings in shares of U.S. Bancorp by 0.4% during the 4th quarter. Lcnb Corp now owns 42,431 shares of the financial services provider’s stock worth $2,383,000 after purchasing an additional 188 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of U.S. Bancorp by 45.6% during the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 203 shares during the period. Finally, Cordasco Financial Network raised its stake in shares of U.S. Bancorp by 5.5% in the first quarter. Cordasco Financial Network now owns 3,930 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on USB. Piper Sandler set a $50.00 price target on shares of U.S. Bancorp in a report on Tuesday, July 19th. Credit Suisse Group dropped their price target on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. Oppenheimer set a $68.00 price objective on U.S. Bancorp in a report on Tuesday, July 19th. Wolfe Research dropped their target price on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Finally, Morgan Stanley boosted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.47.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $47.58 on Friday. The stock has a 50-day simple moving average of $47.05 and a 200 day simple moving average of $49.98. The stock has a market capitalization of $70.69 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.63 and a beta of 0.97. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70. U.S. Bancorp has a 12-month low of $43.74 and a 12-month high of $63.57.

U.S. Bancorp (NYSE:USBGet Rating) last announced its earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, research analysts anticipate that U.S. Bancorp will post 4.45 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.84 annualized dividend and a yield of 3.87%. U.S. Bancorp’s dividend payout ratio is currently 42.30%.

U.S. Bancorp Profile

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

Featured Articles

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:USBGet 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.