Handelsbanken Fonder AB Boosts Stake in U.S. Bancorp (NYSE:USB)

Handelsbanken Fonder AB raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 418,955 shares of the financial services provider’s stock after buying an additional 33,189 shares during the quarter. Handelsbanken Fonder AB’s holdings in U.S. Bancorp were worth $18,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CGC Financial Services LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $25,000. BKM Wealth Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth about $27,000. Legacy Financial Group LLC bought a new stake in U.S. Bancorp during the third quarter worth about $30,000. Finally, Naples Money Management LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $41.05 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $63.96 billion, a P/E ratio of 13.59, a PEG ratio of 2.10 and a beta of 1.05. The stock’s 50 day moving average is $42.32 and its 200 day moving average is $39.96. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. On average, equities research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Barclays reduced their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Evercore ISI boosted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $46.14.

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.