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 2.30% to 123.75 million shares with purchase of 2.78 million shares. This fresh investment now brings its stake to 8.07% valued currently at $4.52 billion. In addition, BlackRock Fund Advisors raised its holdings by 3.23 million to 74.72 million shares. And SSgA Funds Management, Inc. has lifted its position by 3.96% or 2.3 million shares – to 60.46 million shares.
With over 46.09 million U.S. Bancorp (USB) shares trading Friday and a closing price of $35.15 on the day, the dollar volume was approximately $1.62 billion. The shares have shown a negative half year performance of -3.33% and its price on 09/15/23 lost nearly -1.60%. Currently, there are 1.56B common shares owned by the public and among those 1.55B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 29 analysts who have offered their price forecasts for USB have a consensus price objective of $43.62. The analysts have set the share’s price value over the next 12 months at a high of $67.00 and a low of $36.00. The average price target is 19.93% above its recent price level and an upside to the estimated low will see the stock gain 2.36% over that period. But an upside of 47.54% will see the stock hit the forecast high price target while median target price for the stock is $42.50.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 1,061,604 shares. Insider sales of the common stock occurred on 47 occasions, with total insider shares sold totaling 468,591 shares.
The top 3 mutual fund holders in U.S. Bancorp are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Schwab US Dividend Equity ETF. Vanguard Total Stock Market ETF owns 47.69 million shares of the company’s stock, all valued at over $1.74 billion. The company sold 3822.0 shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 0.2 million shares to see its total holdings expand to 33.6 million shares valued at over $1.23 billion and representing 2.19% of the shares outstanding. Schwab US Dividend Equity ETF sold 11529.0 shares to bring its total holdings to over 21.93 million shares at a value of $800.98 million. Schwab US Dividend Equity ETF now owns shares totaling to 1.43% of the shares outstanding.
Shares of U.S. Bancorp (NYSE: USB) opened at $35.32, down -$0.4 from a prior closing price of $35.72. However, the script later moved the day high at 35.71, down -1.60%. The company’s stock has a 5-day price change of -2.66% and 5.59% over the past three months. USB shares are trading -19.40% year to date (YTD), with the 12-month market performance down to -22.06% lower. It has a 12-month low price of $27.27 and touched a high of $49.95 over the same period. USB has an average intraday trading volume of 12.60 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 -3.04%, -5.39%, and -9.11% respectively.
Institutional ownership of U.S. Bancorp (NYSE: USB) shares accounts for 74.10% of the company’s 1.56B shares outstanding. Mutual fund holders own 37.98%, while other institutional holders and individual stakeholders account for 39.73% and 10.47% respectively.
It has a market capitalization of $55.61B and a beta (3y monthly) value of 1.00. The stock’s trailing 12-month PE ratio is 9.77, while the earnings-per-share (ttm) stands at $3.60. The company has a PEG of 1.63 and the debt-to-equity ratio at 0.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.20% over the week and 2.41% over the month.
Analysts forecast that U.S. Bancorp (USB) will achieve an EPS of $1.05 for the current quarter, $1.05 for the next quarter and $4.28 for 2024. The lowest estimate earnings-per-share for the quarter is $0.96 while analysts give the company a high EPS estimate of $1.11. Comparatively, EPS for the current quarter was $1.18 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.70%, and -4.05% over the next financial year. EPS should grow at an annualized rate of 6.00% over the next five years, compared to 4.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 29 brokerage firm advisors rate U.S. Bancorp (USB) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 16 of the 29 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the USB, a number of firms have released research notes about the stock. HSBC Securities stated their Hold rating for the stock in a research note on September 07, 2023, with the firm’s price target at $30.
