Patton Albertson Miller Group LLC Acquires New Shares in U.S. Bancorp (NYSE:USB)

Patton Albertson Miller Group LLC bought a new position in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,382 shares of the financial services provider’s stock, valued at approximately $210,000.

Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $86,000. AXA S.A. lifted its holdings in shares of U.S. Bancorp by 79.2% during the second quarter. AXA S.A. now owns 90,862 shares of the financial services provider’s stock worth $3,607,000 after purchasing an additional 40,147 shares during the period. AQR Capital Management LLC grew its stake in shares of U.S. Bancorp by 414.4% in the second quarter. AQR Capital Management LLC now owns 572,617 shares of the financial services provider’s stock worth $22,653,000 after purchasing an additional 461,291 shares during the last quarter. APG Asset Management N.V. increased its holdings in U.S. Bancorp by 203.2% in the second quarter. APG Asset Management N.V. now owns 182,496 shares of the financial services provider’s stock valued at $6,760,000 after purchasing an additional 122,300 shares during the period. Finally, Scientech Research LLC bought a new position in U.S. Bancorp during the 2nd quarter worth $213,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Up 1.2 %

U.S. Bancorp stock opened at $49.00 on Monday. The firm has a market capitalization of $76.43 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05. The firm’s fifty day moving average price is $49.99 and its two-hundred day moving average price is $47.15. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current fiscal 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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.08%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays upped their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.