U.S. Bancorp (NYSE:USB) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 32.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 131,955 shares of the financial services provider’s stock after acquiring an additional 32,355 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in U.S. Bancorp were worth $6,311,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp lifted its holdings in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC lifted its holdings 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. Charles Schwab Investment Management Inc. lifted its holdings in shares of U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the period. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, Amundi lifted its holdings in shares of U.S. Bancorp by 7.4% in the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after buying an additional 1,341,407 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’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 completion of the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on USB. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Barclays lifted 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, January 6th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Monday, January 13th. Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Price Performance

USB stock opened at $40.87 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business has a 50 day simple moving average of $47.03 and a 200-day simple moving average of $47.79. The firm has a market capitalization of $63.67 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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 business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.