ZEGA Investments LLC Takes Position in U.S. Bancorp (NYSE:USB)

ZEGA Investments LLC bought a new position in U.S. Bancorp (NYSE:USB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 33,099 shares of the financial services provider’s stock, valued at approximately $1,624,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. boosted its holdings in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the period. Raymond James Financial Inc. bought a new stake in U.S. Bancorp during the fourth quarter valued at about $184,733,000. Charles Schwab Investment Management Inc. lifted its position in shares of U.S. Bancorp by 5.2% in the fourth 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 in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $111,274,000. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on USB. Compass Point lifted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays boosted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Raymond James upgraded 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. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 0.4 %

NYSE USB opened at $42.77 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market capitalization of $66.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02. The company has a fifty day moving average of $46.31 and a two-hundred day moving average of $47.63.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

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 issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. U.S. Bancorp’s payout ratio 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.