Summitry LLC Increases Holdings in U.S. Bancorp (NYSE:USB)

Summitry LLC increased its stake in U.S. Bancorp (NYSE:USB) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,788 shares of the financial services provider’s stock after acquiring an additional 2,440 shares during the period. Summitry LLC’s holdings in U.S. Bancorp were worth $5,442,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in USB. FMR LLC increased its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. boosted its stake in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the period. Raymond James Financial Inc. bought a new position in U.S. Bancorp during the fourth quarter valued at $184,733,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the period. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of U.S. Bancorp in the 4th quarter worth about $111,274,000. 77.60% of the stock is owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % 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 valued at $10,385,665 in the last 90 days. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.48.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $43.70 on Wednesday. The firm has a 50 day moving average of $46.11 and a 200 day moving average of $47.63. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $68.09 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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 released its quarterly 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 firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.