Peapack Gladstone Financial Corp Reduces Position in U.S. Bancorp $USB

Peapack Gladstone Financial Corp lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 245,178 shares of the financial services provider’s stock after selling 18,029 shares during the period. Peapack Gladstone Financial Corp’s holdings in U.S. Bancorp were worth $13,083,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp during the third quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $28,000. Finally, Binnacle Investments Inc boosted its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Barclays boosted their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, April 17th. UBS Group reiterated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, Evercore boosted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $53.54 on Tuesday. The company has a market capitalization of $83.11 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $54.47 and a 200 day moving average of $54.01.

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

U.S. Bancorp Announces Dividend

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

Insiders Place Their Bets

In other 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 transaction, the insider directly owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.