Lynch & Associates IN Purchases 1,326 Shares of U.S. Bancorp (NYSE:USB)

Lynch & Associates IN grew its stake in shares of U.S. Bancorp (NYSE:USB) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,281 shares of the financial services provider’s stock after buying an additional 1,326 shares during the quarter. Lynch & Associates IN’s holdings in U.S. Bancorp were worth $3,218,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the second quarter worth $25,000. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the period. Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $33,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of U.S. Bancorp in the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.2 %

Shares of USB stock traded down $1.07 on Friday, hitting $47.45. The stock had a trading volume of 8,419,119 shares, compared to its average volume of 6,660,569. The business has a 50 day moving average price of $50.21 and a 200 day moving average price of $46.41. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a market cap of $74.02 billion, a PE ratio of 14.51, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on USB. Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research report on Thursday, December 19th. Truist Financial started coverage on U.S. Bancorp in a research report on Tuesday. They set a “hold” rating and a $54.00 price objective for the company. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $54.07.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by company insiders.

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.