Hsbc Holdings PLC Has $243.84 Million Stock Position in U.S. Bancorp $USB

Hsbc Holdings PLC lifted its position in U.S. Bancorp (NYSE:USB) by 11.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,562,050 shares of the financial services provider’s stock after buying an additional 468,381 shares during the period. Hsbc Holdings PLC’s holdings in U.S. Bancorp were worth $243,838,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in USB. Norges Bank acquired a new position in U.S. Bancorp in the fourth quarter valued at about $1,887,497,000. Capital Research Global Investors bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $296,377,000. SG Americas Securities LLC raised its position in shares of U.S. Bancorp by 3,451.9% during the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after purchasing an additional 4,210,676 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of U.S. Bancorp by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after purchasing an additional 4,153,080 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of U.S. Bancorp by 63.2% during the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock valued at $505,866,000 after purchasing an additional 3,672,742 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $58.07 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market cap of $90.07 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The stock’s 50-day moving average is $55.69 and its 200-day moving average is $54.86. U.S. Bancorp has a one year low of $42.93 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same period last year, the company earned $1.03 earnings per share. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Stephens began coverage on U.S. Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $63.00 price objective for the company. Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.29.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.