DAVENPORT & Co LLC Increases Investment in U.S. Bancorp

DAVENPORT & Co LLC has increased its investment in U.S. Bancorp (NYSE:USB - Free Report) by 10.0% during the fourth quarter, based on the latest filing with the SEC. This institutional investor now holds 191,691 shares of the financial services firm after purchasing an additional 17,434 shares in this period. As of the most recent filing, DAVENPORT & Co LLC's total holdings in U.S. Bancorp are valued at approximately $9,169,000.

In addition to DAVENPORT & Co LLC, other institutional investors and hedge funds have also made changes to their positions in U.S. Bancorp. For instance, Brooklyn Investment Group increased its investment by 4.4% in the third quarter, bringing its total to 4,792 shares worth about $219,000 after acquiring an additional 201 shares. Similarly, McAdam LLC raised its stake by 2.5% and now owns 8,503 shares, valued at $389,000 following a purchase of an additional 209 shares. HCR Wealth Advisors increased its holdings by 1.1%, resulting in ownership of 20,107 shares valued at $962,000 after buying 211 additional shares. Furthermore, Priebe Wealth Holdings LLC raised its investment by 4.4% to own 5,078 shares now worth $243,000 after acquiring 215 additional shares. Essex Savings Bank also raised its stake in U.S. Bancorp by 1.8%, owning 12,350 shares valued at $591,000 after buying an additional 216 shares. In total, 77.60% of U.S. Bancorp's stock is owned by institutional investors.

U.S. Bancorp Stock Performance

On Monday, shares of U.S. Bancorp opened at $47.84. The stock has a 50-day moving average price of $49.71 and a 200-day moving average price of $47.37. U.S. Bancorp's shares have seen a 52-week low of $37.81 and a high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80, and a current ratio of 0.81. It boasts a market capitalization of $74.63 billion, with a price-to-earnings (P/E) ratio of 12.62, and a P/E to growth (P/E/G) ratio of 1.77, alongside a beta of 1.05.

Earnings Report from U.S. Bancorp

U.S. Bancorp reported its earnings on January 16th, indicating earnings per share (EPS) of $1.07, which is higher than the consensus estimate of $1.06 by $0.01. The company's revenue for the quarter reached $7.01 billion, which also exceeded the expected $7 billion. U.S. Bancorp recorded a return on equity of 12.94% and a net margin of 14.75%. Its revenue for this quarter increased by 3.7% compared to the same period last year, during which it reported EPS of $0.99. Analysts predict that U.S. Bancorp will achieve EPS of 4.37 for the current financial year.

Dividend Announcement

Recently, U.S. Bancorp declared a quarterly dividend, which was paid on January 15th. Shareholders on record as of December 31st received a dividend of $0.50 per share, translating to an annualized dividend of $2.00 and a dividend yield of 4.18%. The ex-dividend date was also December 31st. Currently, U.S. Bancorp maintains a dividend payout ratio (DPR) of 52.77%.

Analyst Opinions on U.S. Bancorp

U.S. Bancorp has attracted attention from research analysts, with several issuing reports on the stock. Evercore ISI increased their price target from $51.00 to $54.00 and rated the stock as "in-line". Robert W. Baird has set a price target of $54.00, while Deutsche Bank downgraded U.S. Bancorp from "buy" to "hold", setting a target at $51.00. Stephens lifted their target from $49.00 to $52.00, rating it as "equal weight". Additionally, Truist Financial started coverage with a "hold" rating and a $54.00 target price. The consensus among ten research analysts is a hold rating, with eleven giving a buy rating. According to MarketBeat, the stock currently holds a consensus rating of "Moderate Buy" with an average target price of $54.21.

About U.S. Bancorp

U.S. Bancorp is a financial services holding company that offers a variety of financial solutions for individuals, businesses, governmental entities, and other institutions across the United States. The company operates in several segments including Wealth Management, Corporate and Commercial Banking, Consumer Banking, Payment Services, and Treasury Support.

Investment, Finance, Stocks