Comerica Bank Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Comerica Bank raised its stake in shares of U.S. Bancorp (NYSE:USB) by 11.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 564,443 shares of the financial services provider’s stock after acquiring an additional 56,738 shares during the period. Comerica Bank’s holdings in U.S. Bancorp were worth $25,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. ADV purchased a new stake in U.S. Bancorp during the 4th quarter valued at approximately $5,440,000. Spinnaker Trust purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $220,000. Morningstar Investment Management LLC raised its stake in shares of U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after buying an additional 74,094 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $4,073,000. Finally, abrdn plc raised its stake in shares of U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after buying an additional 272,976 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group cut their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. UBS Group raised their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their target price on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Oppenheimer lowered their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $48.23.

U.S. Bancorp Trading Down 3.0 %

Shares of USB traded down $1.33 during trading hours on Thursday, hitting $43.55. The stock had a trading volume of 5,147,325 shares, compared to its average volume of 8,534,110. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $67.96 billion, a P/E ratio of 14.48, a P/E/G ratio of 4.39 and a beta of 1.04. The company’s fifty day simple moving average is $40.99 and its 200 day simple moving average is $41.57. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $45.88.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the company posted $1.12 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.