Peregrine Asset Advisers Inc. Takes Position in U.S. Bancorp (NYSE:USB)

Peregrine Asset Advisers Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,347 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of 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 worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of 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 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 valued at $146,864,000 after purchasing an additional 2,821,642 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in U.S. Bancorp by 109.7% during the third 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 purchasing an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on USB shares. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Price Performance

Shares of USB opened at $45.88 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. 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 market cap of $71.57 billion, a P/E ratio of 12.10, a PEG ratio of 1.75 and a beta of 1.04. The firm’s 50 day moving average price is $48.19 and its 200 day moving average price is $47.64.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 business posted $0.99 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. 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 quarter. 0.23% of the stock is owned by insiders.

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.