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

Horizon Investments LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm 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.

Other hedge funds have also recently made changes to their positions in the company. Winch Advisory Services LLC increased its position in U.S. Bancorp by 1,088.9% during the 4th 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 in the last quarter. J.Safra Asset Management Corp bought a new stake in 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 fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates raised its stake in shares of U.S. Bancorp by 70.8% in 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 during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $30,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.9 %

Shares of USB stock opened at $42.64 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $47.69. The firm 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. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on USB shares. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday. Compass Point boosted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $65.00 in a report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.93.

Insider Buying and Selling

In related news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated 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 directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s 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 transaction, the insider now owns 209,482 shares of the company’s stock, valued at $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 quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

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.