U.S. Bancorp (NYSE:USB) Shares Acquired by Bell Bank

Bell Bank increased its position in shares of U.S. Bancorp (NYSE:USB) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,784 shares of the financial services provider’s stock after buying an additional 982 shares during the period. Bell Bank’s holdings in U.S. Bancorp were worth $277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. raised its stake in U.S. Bancorp by 1.2% in the fourth quarter. LifeSteps Financial Inc. now owns 51,417 shares of the financial services provider’s stock valued at $2,459,000 after buying an additional 600 shares in the last quarter. Peregrine Asset Advisers Inc. acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $208,000. Bank of Stockton lifted its stake in U.S. Bancorp by 10.1% during the fourth quarter. Bank of Stockton now owns 14,656 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 1,345 shares during the last quarter. Transcend Capital Advisors LLC boosted its holdings in U.S. Bancorp by 5.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 5,196 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 252 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $1,012,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $45.88 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 company has a 50-day simple moving average of $48.19 and a 200-day simple moving average of $47.64. The company has a market capitalization of $71.57 billion, a PE ratio of 12.10, a P/E/G ratio of 1.75 and a beta of 1.04.

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

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.36%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Analyst Upgrades and Downgrades

USB has been the subject of several research analyst reports. Evercore ISI upped their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Morgan Stanley cut their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Oppenheimer upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, 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 report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred 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 directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last 90 days. 0.23% of the stock is currently owned by insiders.

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.