APG Asset Management N.V. Reduces Stock Position in U.S. Bancorp $USB

APG Asset Management N.V. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 15.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,309,682 shares of the financial services provider’s stock after selling 234,658 shares during the period. APG Asset Management N.V. owned about 0.08% of U.S. Bancorp worth $63,297,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in U.S. Bancorp during the 2nd quarter valued at $971,285,000. Davis Selected Advisers raised its stake in shares of 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 valued at $874,757,000 after purchasing an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of U.S. Bancorp by 1,589.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of U.S. Bancorp by 354.5% during the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred 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 sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $54.57 on Monday. The firm’s 50 day moving average is $56.17 and its two-hundred day moving average is $51.23. The firm has a market capitalization of $84.78 billion, a P/E ratio of 11.81, a PEG ratio of 0.98 and a beta of 1.04. 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 52 week low of $35.18 and a 52 week high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 business had revenue of $7.92 billion during 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 company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio (DPR) is 45.02%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on USB shares. JPMorgan Chase & Co. upped their price objective on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. HSBC reiterated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday, January 7th. TD Cowen upped their price target on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Evercore lifted their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Finally, Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday. One research 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 issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.02.

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.