Franklin Resources Inc. Has $450.79 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Franklin Resources Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,424,909 shares of the financial services provider’s stock after acquiring an additional 1,475,562 shares during the period. Franklin Resources Inc. owned about 0.60% of U.S. Bancorp worth $450,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $777,524,000. Raymond James Financial Inc. bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the last quarter. Alecta Tjanstepension Omsesidigt bought a new stake in U.S. Bancorp in the fourth quarter worth approximately $111,274,000. Finally, Madison Investment Advisors LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $96,560,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.0 %

Shares of USB opened at $42.24 on Tuesday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market capitalization of $65.81 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a 50-day simple moving average of $45.62 and a 200-day simple moving average of $47.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.73%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Oppenheimer boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Morgan Stanley lowered their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.21.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.