The Vanguard Group, Inc. recently announced the acquisition of new stake in U.S. Bancorp (NYSE:USB). The institutional investor has increased its shareholding in the Financial company by 1.31% to 109.44 million shares with purchase of 1.41 million shares. This fresh investment now brings its stake to 7.37% valued currently at $4.65 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 0.21 million to 58.9 million shares. And JPMorgan Investment Management, I has lifted its position by 25.07% or 7.16 million shares – to 35.72 million shares.
With over 9.33 million U.S. Bancorp (USB) shares trading Monday and a closing price of $43.39 on the day, the dollar volume was approximately $404.9 million. The shares have shown a negative half year performance of -14.50% and its price on 11/21/22 gained nearly 0.02%. Currently, there are 1.49B common shares owned by the public and among those 1.48B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for USB have a consensus price objective of $52.59. The analysts have set the share’s price value over the next 12 months at a high of $71.00 and a low of $44.00. The average price target is 16.01% above its recent price level and an upside to the estimated low will see the stock gain 1.39% over that period. But an upside of 38.89% will see the stock hit the forecast high price target while median target price for the stock is $52.00.
Insiders at the company have transacted a total of 63 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 681,892 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 260,925 shares.
The top 3 mutual fund holders in U.S. Bancorp are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Schwab US Dividend Equity ETF. Vanguard Total Stock Market Index owns 40.12 million shares of the company’s stock, all valued at over $1.7 billion. The company bought an additional 0.19 million shares recently to bring their total holdings to about 2.70% of the shares outstanding. Vanguard 500 Index Fund bought 0.3 million shares to see its total holdings expand to 30.94 million shares valued at over $1.31 billion and representing 2.08% of the shares outstanding. Schwab US Dividend Equity ETF bought 31554.0 shares to bring its total holdings to over 19.33 million shares at a value of $820.48 million. Schwab US Dividend Equity ETF now owns shares totaling to 1.30% of the shares outstanding.
Shares of U.S. Bancorp (NYSE: USB) opened at $43.37, down -$0.01 from a prior closing price of $43.38. However, the script later moved the day high at 43.83, up 0.02%. The company’s stock has a 5-day price change of -1.05% and -8.48% over the past three months. USB shares are trading -22.75% year to date (YTD), with the 12-month market performance down to -24.66% lower. It has a 12-month low price of $38.39 and touched a high of $63.57 over the same period. USB has an average intraday trading volume of 9.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.99%, 1.84%, and -10.83% respectively.
Institutional ownership of U.S. Bancorp (NYSE: USB) shares accounts for 76.20% of the company’s 1.49B shares outstanding. Mutual fund holders own 35.89%, while other institutional holders and individual stakeholders account for 38.19% and 10.76% respectively.
It has a market capitalization of $63.56B and a beta (3y monthly) value of 0.98. The stock’s trailing 12-month PE ratio is 10.35, while the earnings-per-share (ttm) stands at $4.19. The company has a PEG of 2.12 and the debt-to-equity ratio at 0.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.80% over the week and 2.18% over the month.
Analysts forecast that U.S. Bancorp (USB) will achieve an EPS of $1.2 for the current quarter, $1.17 for the next quarter and $5.01 for 2023. The lowest estimate earnings-per-share for the quarter is $1.1 while analysts give the company a high EPS estimate of $1.42. Comparatively, EPS for the current quarter was $1.07 a year ago. Earnings per share for the fiscal year are expected to increase by 66.80%, and 13.80% over the next financial year. EPS should shrink at an annualized rate of 4.87% over the next five years, compared to 9.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate U.S. Bancorp (USB) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 16 of the 26 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the USB, a number of firms have released research notes about the stock. Wedbush stated their Neutral rating for the stock in a research note on September 28, 2022, with the firm’s price target at $47. UBS was of a view on April 08, 2022 that the stock is Neutral, while Jefferies gave the stock Hold rating on February 14, 2022, issuing a price target of $66- $64. Odeon on their part issued Buy rating on January 25, 2022.