Intact Investment Management Inc. Grows Stock Position in U.S. Bancorp $USB

Intact Investment Management Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 35.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 218,400 shares of the financial services provider’s stock after acquiring an additional 57,500 shares during the period. Intact Investment Management Inc.’s holdings in U.S. Bancorp were worth $10,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMG Wealth Management Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $27,000. Pineridge Advisors LLC grew its holdings in U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 522 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in U.S. Bancorp in the 3rd quarter worth $31,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday. DA Davidson upped their price target on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. HSBC reissued a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Finally, Argus raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $58.19.

U.S. Bancorp Stock Down 1.2%

Shares of NYSE:USB opened at $55.50 on Monday. The firm has a market capitalization of $86.27 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.00 and a beta of 1.07. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day moving average price of $52.57 and a 200-day moving average price of $49.11. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.70.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.