abrdn plc Acquires 272,976 Shares of U.S. Bancorp (NYSE:USB)

abrdn plc raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 71.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 652,401 shares of the financial services provider’s stock after purchasing an additional 272,976 shares during the period. abrdn plc’s holdings in U.S. Bancorp were worth $28,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. CGC Financial Services LLC bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp during the 3rd quarter valued at approximately $30,000. Finally, Naples Money Management LLC bought a new position in U.S. Bancorp during the 4th quarter valued at approximately $30,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on USB. Royal Bank of Canada increased their target price on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. DA Davidson decreased their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group increased their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, StockNews.com lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Stock Performance

USB stock opened at $41.05 on Tuesday. The company has a market cap of $63.96 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The stock’s fifty day moving average price is $42.32 and its 200-day moving average price is $39.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm earned $1.16 EPS. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

About U.S. Bancorp

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.