Bahl & Gaynor Inc. Reduces Stock Holdings in U.S. Bancorp $USB

Bahl & Gaynor Inc. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,577,657 shares of the financial services provider’s stock after selling 29,592 shares during the quarter. Bahl & Gaynor Inc.’s holdings in U.S. Bancorp were worth $124,578,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in USB. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after acquiring an additional 1,279,104 shares during the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after purchasing an additional 456,890 shares in the last quarter. Norges Bank purchased a new stake in U.S. Bancorp during the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers grew its position in U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in U.S. Bancorp by 3.7% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock valued at $749,766,000 after purchasing an additional 585,968 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on USB. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday. Argus raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Oppenheimer boosted their price target on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. DA Davidson increased their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.02.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

NYSE USB opened at $54.57 on Monday. The firm has a market capitalization of $84.78 billion, a P/E ratio of 11.81, a PEG ratio of 0.98 and a beta of 1.04. The stock has a 50-day simple moving average of $56.17 and a two-hundred day simple moving average of $51.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.07 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 45.02%.

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.