abrdn plc Boosts Holdings in U.S. Bancorp (NYSE:USB)

abrdn plc grew its position in U.S. Bancorp (NYSE:USB) by 71.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,401 shares of the financial services provider’s stock after buying an additional 272,976 shares during the period. abrdn plc’s holdings in U.S. Bancorp were worth $28,236,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $27,000. Naples Money Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Finally, Legacy Financial Group LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $41.05 on Tuesday. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The stock’s 50 day moving average is $42.32 and its two-hundred day moving average is $39.96. The firm has a market capitalization of $63.96 billion, a PE ratio of 13.59, a P/E/G ratio of 2.10 and a beta of 1.05. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USB. DA Davidson lowered their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Jefferies Financial Group raised their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Oppenheimer reduced their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Barclays reduced their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $46.14.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.