U.S. Bancorp (NYSE:USB) Stock Holdings Lessened by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in shares of U.S. Bancorp (NYSE:USB) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,241 shares of the financial services provider’s stock after selling 8,229 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in U.S. Bancorp were worth $18,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Focus Financial Network Inc. ADV purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $5,440,000. Spinnaker Trust acquired a new position in U.S. Bancorp in the 4th quarter worth approximately $220,000. Morningstar Investment Management LLC grew its position in U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after purchasing an additional 74,094 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in U.S. Bancorp during the 4th quarter valued at $4,073,000. Finally, abrdn plc lifted its holdings in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after purchasing an additional 272,976 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on USB shares. Jefferies Financial Group dropped their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley raised their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday. Barclays cut their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Citigroup boosted their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $48.23.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

USB stock traded down $1.13 during mid-day trading on Friday, reaching $42.35. 8,485,453 shares of the stock traded hands, compared to its average volume of 9,838,976. The firm has a market capitalization of $66.09 billion, a PE ratio of 14.02, a P/E/G ratio of 4.20 and a beta of 1.04. The business has a 50-day moving average of $41.10 and a two-hundred day moving average of $41.59. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business posted $1.12 earnings per share. U.S. Bancorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

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.