Essex Savings Bank Acquires 216 Shares of U.S. Bancorp (NYSE:USB)

Essex Savings Bank grew its stake in U.S. Bancorp (NYSE:USB) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,350 shares of the financial services provider’s stock after acquiring an additional 216 shares during the period. Essex Savings Bank’s holdings in U.S. Bancorp were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of USB. Frazier Financial Advisors LLC grew its stake in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $38,000. Kimelman & Baird LLC bought a new stake in U.S. Bancorp during the second quarter worth $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in U.S. Bancorp in the third quarter valued at $40,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on USB shares. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Evercore ISI raised their price target 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 raised their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $54.07.

U.S. Bancorp Stock Performance

NYSE:USB opened at $50.92 on Thursday. The company has a market capitalization of $79.44 billion, a PE ratio of 15.57, a P/E/G ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day simple moving average of $50.25 and a two-hundred day simple moving average of $46.68.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.91 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp 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.