Sovran Advisors LLC Takes $369,000 Position in U.S. Bancorp (NYSE:USB)

Sovran Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 7,529 shares of the financial services provider’s stock, valued at approximately $369,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC raised its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the period. Franklin Resources Inc. increased its holdings in U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after acquiring an additional 2,821,642 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after acquiring an additional 1,847,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on USB. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.21.

Insider Buying and Selling

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

U.S. Bancorp Trading Down 0.1 %

USB opened at $47.52 on Thursday. The firm has a market cap of $74.13 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a 50-day moving average of $48.88 and a 200 day moving average of $47.50. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. U.S. Bancorp’s quarterly 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 year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.