WASHINGTON TRUST Co Raises Holdings in U.S. Bancorp (NYSE:USB)

WASHINGTON TRUST Co lifted its stake in U.S. Bancorp (NYSE:USB) by 15.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,731 shares of the financial services provider’s stock after purchasing an additional 369 shares during the quarter. WASHINGTON TRUST Co’s holdings in U.S. Bancorp were worth $118,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. CGC Financial Services LLC purchased a new position in U.S. Bancorp in the 4th quarter worth $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $27,000. Legacy Financial Group LLC purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $30,000. Finally, First Command Advisory Services Inc. acquired a new position in U.S. Bancorp in the 3rd quarter worth approximately $35,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the transaction, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The disclosure for this sale can be found here. Insiders sold a total of 60,265 shares of company stock worth $2,535,903 over the last 90 days. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on USB. Evercore ISI upped their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday. UBS Group increased their price target on U.S. Bancorp from $35.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a research note on Thursday, December 14th. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Friday, December 15th. Finally, Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.41.

U.S. Bancorp Stock Up 1.6 %

USB stock opened at $44.69 on Friday. The company’s 50 day moving average price is $41.98 and its 200 day moving average price is $38.84. The firm has a market capitalization of $69.63 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 2.24 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.28. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 3.89 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.39%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 59.76%.

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.