TCW Group Inc. Purchases 24,550 Shares of U.S. Bancorp (NYSE:USB)

TCW Group Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 244.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,593 shares of the financial services provider’s stock after purchasing an additional 24,550 shares during the quarter. TCW Group Inc.’s holdings in U.S. Bancorp were worth $1,506,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of USB. Scotia Capital Inc. grew its stake in U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 990 shares in the last quarter. Spinnaker Trust purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $220,000. Tealwood Asset Management Inc. raised its stake in shares of U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $4,073,000. Finally, abrdn plc lifted its holdings in U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after purchasing an additional 272,976 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several analyst reports. StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Morgan Stanley upped their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Finally, UBS Group dropped their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Trading Up 1.3 %

U.S. Bancorp stock traded up $0.51 during trading hours on Friday, reaching $40.53. The stock had a trading volume of 6,156,240 shares, compared to its average volume of 7,008,351. The stock has a market cap of $63.25 billion, a PE ratio of 13.42, a PEG ratio of 3.90 and a beta of 1.05. The company has a fifty day simple moving average of $41.99 and a 200-day simple moving average of $41.37. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 52 week low of $29.33 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Analysts forecast that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

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.