Linscomb Wealth Inc. Acquires 980 Shares of U.S. Bancorp (NYSE:USB)

Linscomb Wealth Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,249 shares of the financial services provider’s stock after buying an additional 980 shares during the period. Linscomb Wealth Inc.’s holdings in U.S. Bancorp were worth $299,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of USB. Brooklyn Investment Group increased its stake in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares during the last quarter. Capital Performance Advisors LLP grew its position in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 210 shares during the last quarter. HCR Wealth Advisors grew its position in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC raised its stake in U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares in the last quarter. Finally, Essex Savings Bank lifted its holdings in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 216 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $46.93 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a fifty day simple moving average of $47.91 and a 200 day simple moving average of $47.80. The company has a market capitalization of $73.20 billion, a PE ratio of 12.38, a P/E/G ratio of 1.73 and a beta of 1.04. 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 (NYSE:USB) last posted 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 firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company posted $0.99 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp 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 completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % 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. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on USB shares. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Oppenheimer increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. 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. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.21.

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.