ABN Amro Investment Solutions Sells 64,893 Shares of U.S. Bancorp $USB

ABN Amro Investment Solutions reduced its position in U.S. Bancorp (NYSE:USB) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,493 shares of the financial services provider’s stock after selling 64,893 shares during the quarter. ABN Amro Investment Solutions’ holdings in U.S. Bancorp were worth $11,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after acquiring an additional 2,038,996 shares during the period. Geode Capital Management LLC grew 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 worth $1,650,305,000 after purchasing an additional 456,890 shares in the last quarter. Norges Bank bought a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $971,285,000. Davis Selected Advisers lifted its holdings in U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in U.S. Bancorp by 3.7% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. JPMorgan Chase & Co. lifted their target price on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Oppenheimer increased their price target on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.79.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

Shares of USB opened at $57.66 on Friday. The company’s fifty day simple moving average is $55.43 and its 200-day simple moving average is $50.34. The company has a market cap of $89.63 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 1.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

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

U.S. Bancorp Dividend Announcement

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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 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.