Avanza Fonder AB Makes New $5.31 Million Investment in U.S. Bancorp (NYSE:USB)

Avanza Fonder AB bought a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 110,951 shares of the financial services provider’s stock, valued at approximately $5,307,000.

Several other institutional investors also recently modified their holdings of the business. Brooklyn Investment Group raised its stake in U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 201 shares in the last quarter. McAdam LLC raised its position in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares in the last quarter. HCR Wealth Advisors boosted its stake in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after buying an additional 211 shares during the period. Essex Savings Bank grew its position in U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after buying an additional 216 shares in the last quarter. Finally, First Financial Bank Trust Division increased its stake in U.S. Bancorp by 0.7% during the 4th quarter. First Financial Bank Trust Division now owns 31,037 shares of the financial services provider’s stock worth $1,485,000 after acquiring an additional 224 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.0 %

USB opened at $47.57 on Friday. The company’s 50-day moving average price is $50.25 and its two-hundred day moving average price is $46.71. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock has a market cap of $74.21 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 2.47 and a beta of 1.05.

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 analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts expect that U.S. Bancorp will post 3.91 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.20%. U.S. Bancorp’s payout ratio is 61.16%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.07.

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.