First County Bank CT Has $925,000 Stake in U.S. Bancorp (NYSE:USB)

First County Bank CT lifted its stake in U.S. Bancorp (NYSE:USB) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,335 shares of the financial services provider’s stock after purchasing an additional 680 shares during the quarter. First County Bank CT’s holdings in U.S. Bancorp were worth $925,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the period. Franklin Resources Inc. increased its position in U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC raised its holdings in U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Marshall Wace LLP lifted its position in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after purchasing an additional 2,116,175 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after purchasing an additional 1,847,000 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB remained flat at $48.73 during trading on Tuesday. The company’s stock had a trading volume of 3,557,717 shares, compared to its average volume of 5,815,513. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50 day moving average price of $50.20 and a 200-day moving average price of $46.32. The firm has a market cap of $76.02 billion, a P/E ratio of 14.90, a PEG ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has authorized a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on USB. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Piper Sandler upped their price objective on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Oppenheimer reduced their target price on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Barclays upped their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.07.

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.