U.S. Bancorp (NYSE:USB) Shares Sold by Sawtooth Solutions LLC

Sawtooth Solutions LLC decreased its stake in shares of U.S. Bancorp (NYSE:USBGet Rating) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,792 shares of the financial services provider’s stock after selling 1,234 shares during the quarter. Sawtooth Solutions LLC’s holdings in U.S. Bancorp were worth $839,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of USB. Norges Bank acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $768,650,000. Magellan Asset Management Ltd boosted its holdings in shares of U.S. Bancorp by 8,676.4% in the 1st quarter. Magellan Asset Management Ltd now owns 12,904,961 shares of the financial services provider’s stock valued at $685,899,000 after acquiring an additional 12,757,920 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of U.S. Bancorp by 237.2% in the 1st quarter. First Trust Advisors LP now owns 5,112,295 shares of the financial services provider’s stock valued at $271,718,000 after acquiring an additional 3,596,021 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of U.S. Bancorp by 50.2% in the 1st quarter. Invesco Ltd. now owns 9,856,817 shares of the financial services provider’s stock valued at $523,890,000 after acquiring an additional 3,295,524 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock valued at $5,942,456,000 after acquiring an additional 2,618,810 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.

U.S. Bancorp Trading Up 1.7 %

Shares of U.S. Bancorp stock opened at $45.87 on Friday. The firm has a market capitalization of $68.15 billion, a PE ratio of 10.54, a P/E/G ratio of 1.56 and a beta of 0.97. U.S. Bancorp has a twelve month low of $43.74 and a twelve month high of $63.57. The firm’s 50-day moving average price is $47.02 and its 200 day moving average price is $49.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70.

U.S. Bancorp (NYSE:USBGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. U.S. Bancorp’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.45 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 42.30%.

Wall Street Analyst Weigh In

Several research firms have recently commented on USB. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Piper Sandler set a $50.00 price objective on shares of U.S. Bancorp in a report on Tuesday, July 19th. Royal Bank of Canada dropped their price objective on shares of U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Wolfe Research lowered their price target on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.56.

U.S. Bancorp Company Profile

(Get Rating)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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