Pineridge Advisors LLC Raises Stock Position in U.S. Bancorp (NYSE:USB)

Pineridge Advisors LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 65.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,286 shares of the financial services provider’s stock after acquiring an additional 507 shares during the quarter. Pineridge Advisors LLC’s holdings in U.S. Bancorp were worth $61,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Natixis Advisors LLC grew its holdings in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth about $1,018,000. M&T Bank Corp grew its stake in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in U.S. Bancorp by 184.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 45,560 shares in the last quarter. Finally, Keystone Financial Planning Inc. raised its position in U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after acquiring an additional 16,552 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several research reports. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Finally, Evercore ISI boosted 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 research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $46.88 on Tuesday. The stock has a market capitalization of $73.14 billion, a P/E ratio of 12.37, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business’s fifty day moving average price is $49.09 and its 200 day moving average price is $47.47. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

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, topping 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 analysts’ expectations of $7 billion. During the same quarter in the previous year, the business earned $0.99 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

U.S. Bancorp Company 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.