Horizon Investments LLC Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

Horizon Investments LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,961 shares of the financial services provider’s stock after acquiring an additional 604 shares during the period. Horizon Investments LLC’s holdings in U.S. Bancorp were worth $1,385,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in USB. Winch Advisory Services LLC boosted its stake in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $26,000. FPC Investment Advisory Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates grew its holdings in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth approximately $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.9 %

NYSE USB opened at $42.64 on Thursday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock has a market capitalization of $66.44 billion, a PE ratio of 11.25, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business’s 50-day moving average is $46.52 and its 200 day moving average is $47.69.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.69%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analysts Set New Price Targets

USB has been the subject of a number of research reports. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Barclays lifted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Compass Point increased their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents 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 at this link. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

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.