Assenagon Asset Management S.A. Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Assenagon Asset Management S.A. cut its stake in shares of U.S. Bancorp (NYSE:USB) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 50,191 shares of the financial services provider’s stock after selling 642 shares during the period. Assenagon Asset Management S.A.’s holdings in U.S. Bancorp were worth $2,401,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in USB. State Street Corp grew its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after acquiring an additional 819,805 shares during the period. FMR LLC lifted its stake in shares of U.S. Bancorp by 32.7% in 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 purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 3.9% during the 3rd 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. Geode Capital Management LLC grew its holdings in shares of U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, Legal & General Group Plc increased its position in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Down 1.3 %

NYSE USB opened at $48.67 on Thursday. The company’s fifty day moving average price is $50.10 and its two-hundred day moving average price is $47.02. The company has a market capitalization of $75.93 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05. U.S. Bancorp has a 12 month low of $37.81 and a 12 month 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.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS 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 analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.11%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Finally, Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.