U.S. Bancorp $USB Stake Boosted by Huntington National Bank

Huntington National Bank increased its position in shares of U.S. Bancorp (NYSE:USB) by 6.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 933,850 shares of the financial services provider’s stock after purchasing an additional 55,466 shares during the quarter. Huntington National Bank owned 0.06% of U.S. Bancorp worth $42,257,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in USB. Nuveen LLC bought a new position in U.S. Bancorp during the first quarter worth $138,183,000. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after purchasing an additional 2,393,383 shares during the last quarter. American Century Companies Inc. lifted its stake in U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after buying an additional 1,493,318 shares during the last quarter. Nordea Investment Management AB lifted its stake in U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after buying an additional 1,311,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock valued at $464,953,000 after buying an additional 1,045,509 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Truist Financial raised their target price on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Bank of America raised their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, TD Cowen raised their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $46.66 on Tuesday. The firm has a market capitalization of $72.61 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock’s fifty day moving average is $48.11 and its 200-day moving average is $45.65.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

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.