Geode Capital Management LLC Grows Stake in U.S. Bancorp (NYSE:USB)

Geode Capital Management LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,937,360 shares of the financial services provider’s stock after buying an additional 850,763 shares during the period. Geode Capital Management LLC’s holdings in U.S. Bancorp were worth $1,618,948,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in USB. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. Winch Advisory Services LLC increased its position in shares of U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates lifted its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp in the fourth quarter worth $30,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction on 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 owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on USB shares. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. DA Davidson upgraded shares of 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. Finally, 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 report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

U.S. Bancorp Price Performance

USB opened at $41.75 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $65.04 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The stock’s 50 day moving average price is $45.47 and its 200-day moving average price is $47.56. 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 issued its quarterly earnings data 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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the firm earned $0.99 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.79%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.