Peregrine Asset Advisers Inc. Makes New $208,000 Investment in U.S. Bancorp (NYSE:USB)

Peregrine Asset Advisers Inc. purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,347 shares of the financial services provider’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp increased its position in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after acquiring an additional 819,805 shares during the period. FMR LLC grew its stake in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings 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 valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Geode Capital Management LLC increased its holdings in shares of U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after purchasing an additional 436,252 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.9 %

Shares of USB stock opened at $45.88 on Friday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a market cap of $71.57 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.75 and a beta of 1.04. 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 50 day simple moving average of $48.19 and a 200-day simple moving average of $47.64.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

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.