Oppenheimer Asset Management Inc. Boosts Holdings in U.S. Bancorp (NYSE:USB)

Oppenheimer Asset Management Inc. raised its position in U.S. Bancorp (NYSE:USB) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,182 shares of the financial services provider’s stock after acquiring an additional 20,860 shares during the period. Oppenheimer Asset Management Inc.’s holdings in U.S. Bancorp were worth $10,196,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its position in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC increased its position in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after buying an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after acquiring an additional 599,852 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of U.S. Bancorp by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after acquiring an additional 436,252 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Trading Up 1.0 %

U.S. Bancorp stock opened at $46.22 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market cap of $72.10 billion, a PE ratio of 12.20, a P/E/G ratio of 1.73 and a beta of 1.04. The stock’s 50 day simple moving average is $47.93 and its two-hundred day simple moving average is $47.76. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by company insiders.

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.