Los Angeles Capital Management LLC Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Los Angeles Capital Management LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 24.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,000,581 shares of the financial services provider’s stock after purchasing an additional 789,026 shares during the period. U.S. Bancorp accounts for approximately 0.8% of Los Angeles Capital Management LLC’s portfolio, making the stock its 19th largest position. Los Angeles Capital Management LLC owned 0.26% of U.S. Bancorp worth $191,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB grew its holdings in shares of U.S. Bancorp by 16.9% during the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of U.S. Bancorp by 19.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 50,833 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 8,263 shares during the period. Mount Yale Investment Advisors LLC raised its position in shares of U.S. Bancorp by 17.7% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 10,601 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 1,592 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $281,000. Finally, Modera Wealth Management LLC raised its position in shares of U.S. Bancorp by 2.8% during the 3rd quarter. Modera Wealth Management LLC now owns 11,448 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 316 shares during the last quarter. 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 business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.57 on Tuesday. The firm has a market cap of $71.08 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The firm’s 50-day simple moving average is $48.08 and its 200-day simple moving average is $47.76. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. 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 issued its 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 for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business 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. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.39%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on USB. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Compass Point boosted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI boosted their price objective 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. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

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.