U.S. Bancorp $USB Shares Bought by Citigroup Inc.

Citigroup Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,749,812 shares of the financial services provider’s stock after buying an additional 41,803 shares during the period. Citigroup Inc. owned about 0.11% of U.S. Bancorp worth $84,568,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of USB. Guerra Advisors Inc purchased a new position in U.S. Bancorp during the third quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $31,000. Finally, Pineridge Advisors LLC raised its stake in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Stock Performance

Shares of USB stock opened at $58.63 on Monday. 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 firm has a market cap of $91.13 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.05 and a beta of 1.06. The firm’s 50 day moving average price is $55.98 and its 200-day moving average price is $50.86. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. U.S. Bancorp’s payout ratio is currently 45.02%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Truist Financial lifted their target price on shares of U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. TD Cowen upped their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” 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 note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.79.

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.