Sit Investment Associates Inc. Has $7.31 Million Holdings in U.S. Bancorp (NYSE:USB)

Sit Investment Associates Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 1,031.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 152,765 shares of the financial services provider’s stock after buying an additional 139,265 shares during the quarter. Sit Investment Associates Inc.’s holdings in U.S. Bancorp were worth $7,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. International Assets Investment Management LLC bought a new position in U.S. Bancorp in the fourth quarter valued at $1,018,000. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares during the period. D.A. Davidson & CO. grew its position in shares of U.S. Bancorp by 11.3% in 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 purchasing an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. increased its position in U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after buying an additional 16,552 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday. Finally, DA Davidson upgraded 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 research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.89.

U.S. Bancorp Stock Down 5.2 %

Shares of NYSE:USB opened at $36.78 on Friday. The firm has a market cap of $57.30 billion, a P/E ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.74 and a 52-week high of $53.98. The business’s 50 day simple moving average is $44.92 and its two-hundred day simple moving average is $47.43. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 posted $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.44%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

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.