Pinnacle Wealth Management Advisory Group LLC Makes New $207,000 Investment in U.S. Bancorp (NYSE:USB)

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,336 shares of the financial services provider’s stock, valued at approximately $207,000.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on USB. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI boosted their target price on 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. Raymond James upgraded 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. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Up 0.7 %

USB stock opened at $47.73 on Tuesday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a market cap of $74.46 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.77 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. The business has a 50 day moving average price of $48.61 and a two-hundred day moving average price of $47.55.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 earnings per share. Analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by insiders.

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.