Harvest Portfolios Group Inc. Has $6.33 Million Holdings in U.S. Bancorp $USB

Harvest Portfolios Group Inc. cut its holdings in U.S. Bancorp (NYSE:USB) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 118,570 shares of the financial services provider’s stock after selling 13,221 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in U.S. Bancorp were worth $6,327,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $25,000. Guerra Advisors Inc acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $28,000. Finally, Westfuller Advisors LLC raised its position in shares of U.S. Bancorp by 54.7% during the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 215 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Evercore upped their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Truist Financial lowered their target price on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Trading Down 0.3%

Shares of U.S. Bancorp stock opened at $53.28 on Wednesday. The stock has a fifty day simple moving average of $53.92 and a 200 day simple moving average of $53.52. U.S. Bancorp has a 12-month low of $42.21 and a 12-month high of $61.19. The company has a market capitalization of $82.70 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. U.S. Bancorp’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.9%. U.S. Bancorp’s dividend payout ratio is 43.61%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Profile

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.