U.S. Bancorp (NYSE:USB) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance raised its stake in shares of U.S. Bancorp (NYSE:USB) by 17.1% during the fourth quarter, HoldingsChannel reports. The firm owned 66,488 shares of the financial services provider’s stock after purchasing an additional 9,712 shares during the quarter. Independent Advisor Alliance’s holdings in U.S. Bancorp were worth $3,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of USB. FMR LLC increased its stake in 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 valued at $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. increased its stake in U.S. Bancorp by 153.0% during the 3rd 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 in the last quarter. Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $111,274,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp 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 owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 0.3 %

USB stock opened at $41.70 on Thursday. The business’s 50-day moving average is $47.17 and its 200 day moving average is $47.84. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The stock has a market cap of $64.96 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.73 and a beta of 1.02. 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 EPS 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 analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.80%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. Barclays upped 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. Truist Financial assumed coverage on shares of 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, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp 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.