U.S. Bancorp (NYSE:USB) Shares Bought by DnB Asset Management AS

DnB Asset Management AS lifted its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 606,525 shares of the financial services provider’s stock after acquiring an additional 2,855 shares during the quarter. DnB Asset Management AS’s holdings in U.S. Bancorp were worth $29,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Premier Fund Managers Ltd raised its stake in shares of U.S. Bancorp by 1.5% during the fourth quarter. Premier Fund Managers Ltd now owns 153,820 shares of the financial services provider’s stock valued at $7,422,000 after purchasing an additional 2,300 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in U.S. Bancorp by 13.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 929,408 shares of the financial services provider’s stock valued at $44,454,000 after buying an additional 109,043 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth about $2,430,000. Providence Capital Advisors LLC lifted its stake in shares of U.S. Bancorp by 142.4% in the 4th quarter. Providence Capital Advisors LLC now owns 196,214 shares of the financial services provider’s stock worth $9,385,000 after acquiring an additional 115,256 shares during the period. Finally, Norges Bank bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of several research reports. 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 report on Monday, January 13th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley reduced their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $53.21.

U.S. Bancorp Stock Down 2.4 %

Shares of NYSE USB opened at $42.21 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 company has a 50-day moving average price of $45.74 and a 200-day moving average price of $47.55. The stock has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a P/E/G 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 released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $7 billion. During the same period in the prior year, the firm posted $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is 52.77%.

Insider Activity

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp 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 transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. 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 three months. Company insiders own 0.23% of the company’s stock.

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.