Summitry LLC Increases Position in U.S. Bancorp (NYSE:USB)

Summitry LLC increased its position in U.S. Bancorp (NYSE:USB) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 113,788 shares of the financial services provider’s stock after buying an additional 2,440 shares during the period. Summitry LLC’s holdings in U.S. Bancorp were worth $5,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $26,000. Winch Advisory Services LLC increased its holdings in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates lifted its stake in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.1 %

USB stock opened at $43.70 on Wednesday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business’s 50-day moving average is $46.11 and its 200 day moving average is $47.63. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market cap of $68.09 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.73 and a beta of 1.02.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. 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 4.58%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction 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 trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on 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 sale, 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 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on USB shares. Barclays raised 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. 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 note on Thursday, December 19th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Bank of America reduced their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $53.48.

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.