Heck Capital Advisors LLC Makes New Investment in U.S. Bancorp (NYSE:USB)

Heck Capital Advisors LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,762 shares of the financial services provider’s stock, valued at approximately $84,000.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC boosted its holdings in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after buying an additional 1,847,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after buying an additional 1,796,336 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Truist Financial started coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Barclays raised their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Performance

NYSE:USB opened at $47.84 on Monday. The company has a market cap of $74.63 billion, a P/E ratio of 12.62, a P/E/G ratio of 1.77 and a beta of 1.05. The firm’s 50 day moving average is $49.71 and its two-hundred day moving average is $47.37. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Analysts expect that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.18%. U.S. Bancorp’s payout ratio is 52.77%.

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.