Parkside Financial Bank & Trust Acquires 3,689 Shares of U.S. Bancorp (NYSE:USB)

Parkside Financial Bank & Trust lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,176 shares of the financial services provider’s stock after purchasing an additional 3,689 shares during the quarter. Parkside Financial Bank & Trust’s holdings in U.S. Bancorp were worth $1,061,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. AMF Tjanstepension AB grew its position in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after purchasing an additional 76,914 shares during the last quarter. Assenagon Asset Management S.A. grew its position in U.S. Bancorp by 19.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 50,833 shares of the financial services provider’s stock worth $2,325,000 after purchasing an additional 8,263 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in U.S. Bancorp by 7.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,252 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 955 shares during the last quarter. Pallas Capital Advisors LLC grew its position in U.S. Bancorp by 67.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 9,301 shares of the financial services provider’s stock worth $451,000 after purchasing an additional 3,735 shares during the last quarter. Finally, abrdn plc grew its position in U.S. Bancorp by 8.4% in the 3rd quarter. abrdn plc now owns 622,835 shares of the financial services provider’s stock worth $28,414,000 after purchasing an additional 48,484 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 1.0 %

Shares of NYSE:USB opened at $46.22 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a 50 day moving average of $47.93 and a 200-day moving average of $47.76. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $72.10 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 1.73 and a beta of 1.04.

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. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast 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. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the business’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 transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % 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 worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on USB shares. Oppenheimer raised their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Compass Point raised their price objective 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. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Company 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.