SVB Wealth LLC Acquires New Stake in U.S. Bancorp (NYSE:USB)

SVB Wealth LLC bought 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. The institutional investor bought 7,677 shares of the financial services provider’s stock, valued at approximately $367,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of USB. Dynasty Wealth Management LLC boosted its stake in shares of U.S. Bancorp by 34.8% in the 4th quarter. Dynasty Wealth Management LLC now owns 9,010 shares of the financial services provider’s stock valued at $431,000 after buying an additional 2,326 shares during the period. Private Trust Co. NA raised its holdings in U.S. Bancorp by 3.4% in the fourth quarter. Private Trust Co. NA now owns 21,548 shares of the financial services provider’s stock valued at $1,031,000 after acquiring an additional 699 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in U.S. Bancorp by 20.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 22,176 shares of the financial services provider’s stock worth $1,061,000 after acquiring an additional 3,689 shares during the last quarter. Verus Capital Partners LLC purchased a new position in U.S. Bancorp in the fourth quarter worth approximately $201,000. Finally, Peloton Wealth Strategists grew its holdings in U.S. Bancorp by 5.0% during the 4th quarter. Peloton Wealth Strategists now owns 28,225 shares of the financial services provider’s stock worth $1,350,000 after acquiring an additional 1,350 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. Barclays raised their price objective 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. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Finally, Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. 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 an average rating of “Moderate Buy” and an average target price of $54.21.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 3.6 %

U.S. Bancorp stock opened at $44.56 on Wednesday. The stock has a 50 day moving average of $47.79 and a two-hundred day moving average of $47.91. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock has a market capitalization of $69.51 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.73 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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 firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

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.