Harbour Investments Inc. Acquires 440 Shares of U.S. Bancorp (NYSE:USB)

Harbour Investments Inc. increased its holdings in U.S. Bancorp (NYSE:USB) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,823 shares of the financial services provider’s stock after purchasing an additional 440 shares during the period. Harbour Investments Inc.’s holdings in U.S. Bancorp were worth $1,475,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. grew its holdings in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares during the period. Raymond James Financial Inc. acquired a new stake in U.S. Bancorp during the 4th quarter worth $184,733,000. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 5.2% in the 4th 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 buying an additional 2,460,845 shares during the period. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $111,274,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 0.1 %

NYSE:USB opened at $42.23 on Wednesday. The company has a fifty day moving average of $46.63 and a 200 day moving average of $47.73. U.S. Bancorp has a 52 week low of $37.81 and a 52 week 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 market capitalization of $65.80 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 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 company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the business posted $0.99 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 4.38 earnings per share 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. Investors 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 dividend on an annualized basis and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % 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, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last three months. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Bank of America decreased their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Oppenheimer increased their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $53.98.

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.