IMS Capital Management Grows Position in U.S. Bancorp (NYSE:USB)

IMS Capital Management boosted its position in U.S. Bancorp (NYSE:USB) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,467 shares of the financial services provider’s stock after purchasing an additional 1,516 shares during the period. U.S. Bancorp makes up approximately 1.1% of IMS Capital Management’s investment portfolio, making the stock its 28th biggest holding. IMS Capital Management’s holdings in U.S. Bancorp were worth $2,366,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of U.S. Bancorp by 723.7% in the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after buying an additional 1,847,000 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after buying an additional 1,796,336 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $47.32 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm’s fifty day simple moving average is $48.80 and its two-hundred day simple moving average is $47.50. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $73.83 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.77 and a beta of 1.04.

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 the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last three months. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Wells Fargo & Company upped their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Compass Point raised their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

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.