Portland Financial Advisors Inc Takes Position in U.S. Bancorp (NYSE:USB)

Portland Financial Advisors Inc acquired a new position in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,472 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other hedge funds have also modified their holdings of USB. Natixis Advisors LLC increased its stake in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring 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 fourth quarter worth approximately $1,018,000. M&T Bank Corp grew its position 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. D.A. Davidson & CO. increased its stake in U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in shares of U.S. Bancorp by 184.3% during the third 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. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE:USB opened at $45.88 on Monday. The stock’s fifty day moving average is $48.19 and its two-hundred day moving average is $47.73. 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 company has a market capitalization of $71.57 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced 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 company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.36%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on USB shares. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $54.21.

Insiders Place Their Bets

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

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.