Korea Investment CORP Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Korea Investment CORP increased its stake in U.S. Bancorp (NYSE:USB) by 74.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,321,709 shares of the financial services provider’s stock after purchasing an additional 562,631 shares during the quarter. Korea Investment CORP’s holdings in U.S. Bancorp were worth $63,217,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 63.1% in the third quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock worth $699,000 after buying an additional 5,911 shares in the last quarter. Cadence Bank bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $235,000. Townsquare Capital LLC increased its holdings in U.S. Bancorp by 6.1% during the 3rd quarter. Townsquare Capital LLC now owns 173,301 shares of the financial services provider’s stock worth $7,925,000 after acquiring an additional 9,890 shares during the period. CreativeOne Wealth LLC boosted its holdings in U.S. Bancorp by 16.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 30,537 shares of the financial services provider’s stock valued at $1,396,000 after purchasing an additional 4,203 shares during the period. Finally, Providence Capital Advisors LLC grew its position in shares of U.S. Bancorp by 0.8% during the 3rd quarter. Providence Capital Advisors LLC now owns 80,958 shares of the financial services provider’s stock valued at $3,702,000 after purchasing an additional 612 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % 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 quarter. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on USB. Oppenheimer increased 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. Compass Point raised their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Finally, Barclays boosted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $53.48.

U.S. Bancorp Trading Down 1.2 %

Shares of USB opened at $43.25 on Friday. The stock has a market capitalization of $67.39 billion, a P/E ratio of 11.41, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. 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 firm has a fifty day simple moving average of $45.87 and a two-hundred day simple moving average of $47.57.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. On average, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

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 issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.62%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.