Charles Schwab Investment Management Inc. Raises Holdings in U.S. Bancorp (NYSE:USB)

21 Nov 2024, 16:03 by Sarita Garza · The Markets Daily

Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,328,880 shares of the financial services provider’s stock after purchasing an additional 1,796,336 shares during the quarter. Charles Schwab Investment Management Inc. owned 3.03% of U.S. Bancorp worth $2,164,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McAdam LLC boosted its holdings in U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares during the last quarter. Covestor Ltd raised its holdings in U.S. Bancorp by 15.2% in the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 230 shares during the period. Valmark Advisers Inc. grew its holdings in U.S. Bancorp by 2.9% during the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the period. Phillips Wealth Planners LLC raised its stake in shares of U.S. Bancorp by 2.1% in the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after buying an additional 243 shares during the period. Finally, Waldron Private Wealth LLC lifted its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on USB shares. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer increased their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.22.

View Our Latest Analysis on U.S. Bancorp

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of USB opened at $51.17 on Thursday. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The firm’s 50 day moving average price is $47.33 and its 200 day moving average price is $43.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $79.83 billion, a P/E ratio of 15.52, a PEG ratio of 2.97 and a beta of 1.02.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $1.05 EPS. On average, research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.91%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has approved a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Profile

(Free Report)