Matrix Asset Advisors Inc. NY boosted its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 510,745 shares of the financial services provider’s stock after purchasing an additional 22,437 shares during the quarter. U.S. Bancorp makes up 3.6% of Matrix Asset Advisors Inc. NY’s holdings, making the stock its 9th largest position. Matrix Asset Advisors Inc. NY’s holdings in U.S. Bancorp were worth $23,504,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the company. First Affirmative Financial Network grew its position in U.S. Bancorp by 2.3% in the fourth quarter. First Affirmative Financial Network now owns 7,567 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 172 shares during the period. Lcnb Corp grew its holdings in shares of U.S. Bancorp by 0.4% during the fourth quarter. Lcnb Corp now owns 42,431 shares of the financial services provider’s stock worth $2,383,000 after buying an additional 188 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in U.S. Bancorp by 45.6% in the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 203 shares in the last quarter. Cordasco Financial Network boosted its stake in shares of U.S. Bancorp by 5.5% during the 1st quarter. Cordasco Financial Network now owns 3,930 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 206 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its position in shares of U.S. Bancorp by 3.1% during the 1st quarter. Indiana Trust & Investment Management CO now owns 7,036 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 211 shares during the last quarter. Institutional investors and hedge funds own 74.93% of the company’s stock.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Piper Sandler set a $50.00 price target on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Wolfe Research decreased their price objective on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Citigroup raised their price objective on shares of U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Finally, Morgan Stanley increased their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.56.
U.S. Bancorp Trading Down 2.1 %
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.28 EPS. Equities analysts predict that U.S. Bancorp will post 4.45 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.56%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.46. U.S. Bancorp’s payout ratio is currently 42.30%.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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