Brighton Jones LLC Grows Position in U.S. Bancorp $USB

Brighton Jones LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 41.3% in the third quarter, Holdings Channel.com reports. The firm owned 55,734 shares of the financial services provider’s stock after buying an additional 16,298 shares during the period. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $2,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in U.S. Bancorp in the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers lifted its position in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of U.S. Bancorp by 1,589.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after acquiring an additional 3,266,724 shares during the period. AQR Capital Management LLC grew its position in shares of U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after purchasing an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $54.89 on Tuesday. The firm has a 50 day simple moving average of $48.92 and a two-hundred day simple moving average of $47.50. The stock has a market cap of $85.33 billion, a PE ratio of 12.56, a P/E/G ratio of 1.02 and a beta of 1.10. U.S. Bancorp has a one year low of $35.18 and a one year high of $54.90. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the company posted $1.03 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Insider Activity

In other news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. UBS Group raised their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Citigroup upped their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods raised their price target on shares of U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Truist Financial boosted their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.95.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.