Bleakley Financial Group LLC Acquires 2,562 Shares of U.S. Bancorp (NYSE:USB)

by · The Cerbat Gem

Bleakley Financial Group LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,646 shares of the financial services provider’s stock after acquiring an additional 2,562 shares during the quarter. Bleakley Financial Group LLC’s holdings in U.S. Bancorp were worth $2,012,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FIL Ltd grew its position in shares of U.S. Bancorp by 42.0% during the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 8,542 shares in the last quarter. Wesbanco Bank Inc. grew its position in shares of U.S. Bancorp by 31.6% during the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider’s stock valued at $13,724,000 after purchasing an additional 78,146 shares in the last quarter. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares in the last quarter. Becker Capital Management Inc. grew its position in shares of U.S. Bancorp by 1.5% during the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider’s stock valued at $27,069,000 after purchasing an additional 8,204 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of U.S. Bancorp by 9.2% during the first quarter. Asset Management One Co. Ltd. now owns 653,367 shares of the financial services provider’s stock valued at $27,585,000 after purchasing an additional 55,054 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 3.0%

Shares of NYSE:USB opened at $45.67 on Wednesday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The business has a 50 day simple moving average of $44.59 and a two-hundred day simple moving average of $44.32. The firm has a market capitalization of $71.15 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.38%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on USB shares. Royal Bank Of Canada cut their price objective on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Truist Financial raised their price objective on U.S. Bancorp from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Wednesday, July 9th. Morgan Stanley lifted their price target on U.S. Bancorp from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, July 3rd. Finally, Citigroup lifted their price target on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.70.

Get Our Latest Analysis on USB

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Profile

(Free Report)

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.

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