Oppenheimer & Co. Inc. Increases Position in U.S. Bancorp (NYSE:USB)

Oppenheimer & Co. Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 129,875 shares of the financial services provider’s stock after acquiring an additional 3,855 shares during the period. Oppenheimer & Co. Inc.’s holdings in U.S. Bancorp were worth $6,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Winch Advisory Services LLC grew its stake in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in shares of U.S. Bancorp during the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC grew its stake in shares of 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 last quarter. Global Wealth Strategies & Associates grew its stake in shares of 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 buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at about $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on USB shares. Oppenheimer raised their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Compass Point increased their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded 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 report on Thursday, December 19th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $46.93 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a 50 day simple moving average of $47.91 and a two-hundred day simple moving average of $47.80. The company has a market capitalization of $73.20 billion, a price-to-earnings ratio of 12.38, a P/E/G ratio of 1.73 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $3,114,246.32. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

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.