ZEGA Investments LLC Takes Position in U.S. Bancorp (NYSE:USB)

ZEGA Investments LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 33,099 shares of the financial services provider’s stock, valued at approximately $1,624,000.

A number of other hedge funds also recently bought and sold shares of USB. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $26,000. Winch Advisory Services LLC increased its position in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the period. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the 4th quarter worth $28,000. 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. Finally, Stonebridge Financial Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last ninety days. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.4 %

U.S. Bancorp stock opened at $42.77 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The business’s fifty day moving average is $46.31 and its 200 day moving average is $47.63. The stock has a market capitalization of $66.63 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for 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 quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. U.S. Bancorp’s payout ratio is 52.77%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, 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 for the company in a research note on Wednesday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.93.

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.