Neuberger Berman Group LLC raised its stake in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 21.7% during the first quarter, Holdings Channel reports. The firm owned 1,709,081 shares of the financial services provider’s stock after buying an additional 305,113 shares during the period. Neuberger Berman Group LLC’s holdings in U.S. Bancorp were worth $90,924,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in USB. Covestor Ltd acquired a new position in U.S. Bancorp during the 4th quarter worth $49,000. Renaissance Technologies LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at $15,065,000. Epoch Investment Partners Inc. increased its position in shares of U.S. Bancorp by 7.7% in the 4th quarter. Epoch Investment Partners Inc. now owns 470,785 shares of the financial services provider’s stock valued at $26,444,000 after buying an additional 33,479 shares in the last quarter. PFS Investments Inc. increased its position in shares of U.S. Bancorp by 6.5% in the 4th quarter. PFS Investments Inc. now owns 68,791 shares of the financial services provider’s stock valued at $3,864,000 after buying an additional 4,195 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in U.S. Bancorp by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 23,287,715 shares of the financial services provider’s stock worth $1,305,145,000 after purchasing an additional 493,821 shares in the last quarter. 74.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Piper Sandler set a $50.00 target price on shares of U.S. Bancorp in a report on Tuesday, July 19th. Wolfe Research decreased their price objective on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, May 26th. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. Finally, Credit Suisse Group cut their price target on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.56.
U.S. Bancorp Stock Performance
U.S. Bancorp (NYSE:USB – Get Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.45 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, September 29th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 42.30%.
U.S. Bancorp Company 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 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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