U.S. Bancorp (NYSE:USB) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors lifted its stake in U.S. Bancorp (NYSE:USB) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,877 shares of the financial services provider’s stock after purchasing an additional 856 shares during the period. Choate Investment Advisors’ holdings in U.S. Bancorp were worth $377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Natixis Advisors LLC increased its holdings in U.S. Bancorp by 11.7% during the 4th quarter. Natixis Advisors LLC now owns 448,139 shares of the financial services provider’s stock valued at $21,434,000 after acquiring an additional 46,907 shares in the last quarter. Clearstead Trust LLC increased its holdings in U.S. Bancorp by 1,760.8% during the 4th quarter. Clearstead Trust LLC now owns 6,029 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 5,705 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp during the 4th quarter valued at about $30,000. Postrock Partners LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $532,000. Finally, Intact Investment Management Inc. increased its holdings in U.S. Bancorp by 8.2% during the 4th quarter. Intact Investment Management Inc. now owns 111,700 shares of the financial services provider’s stock valued at $5,343,000 after acquiring an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.4 %

NYSE USB opened at $42.19 on Tuesday. The company’s fifty day simple moving average is $46.76 and its 200-day simple moving average is $47.76. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. 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 stock has a market cap of $65.72 billion, a P/E ratio of 11.13, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $53.98.

About U.S. Bancorp

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.