U.S. Bancorp $USB Holdings Raised by Acadian Asset Management LLC

Acadian Asset Management LLC grew its stake in shares of U.S. Bancorp (NYSE:USB) by 1,288.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,242 shares of the financial services provider’s stock after acquiring an additional 51,262 shares during the period. Acadian Asset Management LLC’s holdings in U.S. Bancorp were worth $2,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of USB. IMG Wealth Management Inc. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $25,000. Saudi Central Bank acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $26,000. Activest Wealth Management grew its position in U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 728 shares in the last quarter. Groupe la Francaise acquired a new position in shares of U.S. Bancorp during the 1st quarter worth $41,000. Finally, Meeder Asset Management Inc. increased its stake in shares of U.S. Bancorp by 118.4% during the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 535 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. Oppenheimer lowered their target price on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 23rd. Truist Financial raised their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a report on Monday, October 20th. Finally, Citigroup boosted their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Stock Down 0.5%

Shares of USB opened at $47.09 on Friday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day simple moving average of $47.83 and a 200-day simple moving average of $46.10. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The firm has a market capitalization of $73.19 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is owned by insiders.

U.S. Bancorp Company Profile

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.