U.S. Bancorp (NYSE:USB) Position Lifted by Grove Bank & Trust

Grove Bank & Trust raised its stake in U.S. Bancorp (NYSE:USB) by 18.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 32,681 shares of the financial services provider’s stock after purchasing an additional 5,149 shares during the period. Grove Bank & Trust’s holdings in U.S. Bancorp were worth $1,563,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of USB. Natixis Advisors LLC lifted its holdings in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the last quarter. International Assets Investment Management LLC acquired a new position in U.S. Bancorp in the fourth quarter worth $1,018,000. M&T Bank Corp increased its stake in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. lifted its position in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after buying an additional 45,560 shares during the last quarter. Finally, Keystone Financial Planning Inc. grew its position in shares of U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after buying an additional 16,552 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on USB. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Truist Financial assumed coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $48.40 on Friday. The stock’s fifty day simple moving average is $50.18 and its 200-day simple moving average is $46.78. The company has a market capitalization of $75.50 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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.