Washington Trust Bank Has $8.06 Million Stake in U.S. Bancorp (NYSE:USB)

Washington Trust Bank grew its stake in U.S. Bancorp (NYSE:USB) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,436 shares of the financial services provider’s stock after acquiring an additional 599 shares during the period. Washington Trust Bank’s holdings in U.S. Bancorp were worth $8,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of U.S. Bancorp in the 4th quarter worth $1,018,000. M&T Bank Corp boosted its stake 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 worth $38,704,000 after purchasing an additional 22,803 shares during the period. D.A. Davidson & CO. grew its holdings in shares of U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after buying an additional 38,802 shares in the last quarter. Keystone Financial Planning Inc. grew its stake in shares of U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after acquiring an additional 16,552 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its stake in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.4 %

Shares of NYSE USB opened at $42.77 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $66.63 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company’s 50 day moving average price is $46.31 and its 200-day moving average price is $47.63. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on USB. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley dropped their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. The Goldman Sachs Group decreased their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

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.