16,255,988 Shares in U.S. Bancorp (NYSE:USB) Purchased by Norges Bank

Norges Bank purchased a new stake in U.S. Bancorp (NYSE:USB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 16,255,988 shares of the financial services provider’s stock, valued at approximately $777,524,000.

Several other institutional investors have also recently made changes to their positions in the stock. Winch Advisory Services LLC grew its position in shares of 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 valued at $26,000 after acquiring an additional 490 shares during the period. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates lifted its position 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 valued at $29,000 after buying 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 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.2 %

NYSE USB opened at $43.25 on Friday. The business has a fifty day moving average price of $45.87 and a two-hundred day moving average price of $47.57. The stock has a market capitalization of $67.39 billion, a PE ratio of 11.41, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the company earned $0.99 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

USB has been the subject of several research reports. Compass Point raised their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley cut their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a report on Monday, January 13th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.48.

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.