U.S. Bancorp (NYSE:USB) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its position in U.S. Bancorp (NYSE:USB) by 23.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,007 shares of the financial services provider’s stock after buying an additional 7,131 shares during the period. First Trust Direct Indexing L.P.’s holdings in U.S. Bancorp were worth $1,654,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Scotia Capital Inc. increased its stake in shares of U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 990 shares during the period. Focus Financial Network Inc. ADV acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $5,440,000. Spinnaker Trust purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $220,000. Morningstar Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 760.8% in the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after buying an additional 74,094 shares during the period. Finally, Tealwood Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 15,665 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on USB. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a report on Thursday, June 27th. Wells Fargo & Company decreased their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley reiterated an “equal weight” rating and set a $45.00 price target on shares of U.S. Bancorp in a research report on Friday, June 21st. Finally, StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $45.84.

U.S. Bancorp Trading Down 1.2 %

NYSE USB traded down $0.46 during mid-day trading on Thursday, reaching $39.51. 3,715,540 shares of the stock were exchanged, compared to its average volume of 8,371,646. The stock has a market capitalization of $61.65 billion, a PE ratio of 13.08, a PEG ratio of 3.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. The business’s fifty day simple moving average is $40.26 and its 200 day simple moving average is $41.60.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS 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 business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.96%. U.S. Bancorp’s payout ratio is currently 64.90%.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.