HUB Investment Partners LLC Takes $234,000 Position in U.S. Bancorp (NYSE:USB)

HUB Investment Partners LLC bought a new stake in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,890 shares of the financial services provider’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. FMR LLC increased its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. increased its position in U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the period. Raymond James Financial Inc. acquired a new stake in U.S. Bancorp in the fourth quarter worth about $184,733,000. Charles Schwab Investment Management Inc. increased its position in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in U.S. Bancorp in the fourth quarter worth about $111,274,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the subject of a number of research reports. Morgan Stanley lowered their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Oppenheimer lifted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Bank of America reduced their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.93.

U.S. Bancorp Trading Up 0.4 %

Shares of USB stock opened at $42.77 on Friday. The stock has a market cap of $66.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02. The stock has a 50-day moving average of $46.31 and a 200-day moving average of $47.64. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS 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 business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities research 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.68%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was 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 owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.