Boston Research & Management Inc. Has $4.44 Million Stock Holdings in U.S. Bancorp $USB

Boston Research & Management Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,039 shares of the financial services provider’s stock after buying an additional 4,946 shares during the quarter. Boston Research & Management Inc.’s holdings in U.S. Bancorp were worth $4,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.3% during the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after buying an additional 456,890 shares during the last quarter. Amundi grew its holdings in U.S. Bancorp by 2.2% during the first quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after buying an additional 422,050 shares in the last quarter. Davis Selected Advisers grew its holdings in U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock valued at $535,312,000 after buying an additional 104,185 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Truist Financial lifted their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, October 17th. TD Cowen boosted their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Citigroup lifted their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, UBS Group boosted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.45.

U.S. Bancorp Stock Up 2.7%

USB opened at $47.73 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market cap of $74.19 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company’s 50-day moving average price is $47.56 and its two-hundred day moving average price is $46.29.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. As a group, equities 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. Shareholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Insiders Place Their Bets

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

U.S. Bancorp 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.