Nvest Financial LLC Buys New Shares in U.S. Bancorp (NYSE:USB)

Nvest Financial LLC acquired a new position in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,034 shares of the financial services provider’s stock, valued at approximately $336,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC raised its stake in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in U.S. Bancorp by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after buying an additional 436,252 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 2.1 %

Shares of NYSE:USB opened at $48.51 on Wednesday. The firm has a market capitalization of $75.67 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05. The business has a 50 day simple moving average of $49.93 and a two-hundred day simple moving average of $47.30. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business earned $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Wall Street Analyst Weigh In

Several research firms have recently commented on USB. Truist Financial assumed coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Morgan Stanley cut their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Evercore ISI boosted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp 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.