16,548 Shares in U.S. Bancorp $USB Acquired by Okabena Investment Services Inc.

Okabena Investment Services Inc. bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,548 shares of the financial services provider’s stock, valued at approximately $800,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guerra Advisors Inc bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in U.S. Bancorp in the third quarter worth $26,000. Hillsdale Investment Management Inc. acquired a new stake in U.S. Bancorp in the second quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in U.S. Bancorp in the third quarter worth $31,000. Finally, Pineridge Advisors LLC increased its stake in U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 522 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 4.7%

Shares of U.S. Bancorp stock opened at $54.57 on Friday. The company has a market capitalization of $84.78 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 0.98 and a beta of 1.06. The stock has a fifty day simple moving average of $56.17 and a 200 day simple moving average of $51.19. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the previous year, the firm earned $1.07 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

Insider Buying and Selling

In other news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on USB. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, January 21st. Royal Bank Of Canada upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. DA Davidson raised their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Oppenheimer boosted their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Finally, Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.