Forsta AP Fonden Boosts Holdings in U.S. Bancorp (NYSE:USB)

Forsta AP Fonden grew its stake in U.S. Bancorp (NYSE:USB) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,000 shares of the financial services provider’s stock after buying an additional 3,900 shares during the period. Forsta AP Fonden’s holdings in U.S. Bancorp were worth $15,832,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its position in U.S. Bancorp by 32.7% during the third 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 during the period. Franklin Resources Inc. lifted its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after purchasing an additional 1,847,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.6 %

Shares of USB stock opened at $47.65 on Thursday. The firm has a market cap of $74.34 billion, a P/E ratio of 12.57, a PEG ratio of 1.81 and a beta of 1.05. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s 50-day simple moving average is $49.93 and its 200-day simple moving average is $47.30.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

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 was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.20%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

A number of brokerages recently weighed in on USB. Truist Financial began 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 for the company. Morgan Stanley lowered their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp 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.