Bank of Stockton Increases Stock Position in U.S. Bancorp (NYSE:USB)

Bank of Stockton boosted its stake in U.S. Bancorp (NYSE:USB) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,656 shares of the financial services provider’s stock after purchasing an additional 1,345 shares during the quarter. Bank of Stockton’s holdings in U.S. Bancorp were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors LLC raised its stake in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $1,018,000. M&T Bank Corp grew its position in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares during the last quarter. D.A. Davidson & CO. grew its position in U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after acquiring an additional 38,802 shares during the last quarter. Finally, Hilltop Holdings Inc. grew its position in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after acquiring an additional 45,560 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $46.79 on Friday. The stock has a fifty day moving average of $48.29 and a 200 day moving average of $47.61. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.75 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent research reports. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. 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. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp 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 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 approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’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 transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by company insiders.

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.