Sit Investment Associates Inc. Buys 139,265 Shares of U.S. Bancorp (NYSE:USB)

Sit Investment Associates Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 1,031.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 152,765 shares of the financial services provider’s stock after purchasing an additional 139,265 shares during the period. Sit Investment Associates Inc.’s holdings in U.S. Bancorp were worth $7,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Janus Henderson Group PLC raised its stake in U.S. Bancorp by 229.5% in the 3rd quarter. Janus Henderson Group PLC now owns 845,686 shares of the financial services provider’s stock valued at $38,671,000 after acquiring an additional 588,999 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of U.S. Bancorp by 267.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 19,036 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 13,849 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of U.S. Bancorp by 5.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,917 shares of the financial services provider’s stock valued at $1,460,000 after buying an additional 1,792 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 6.4% during the 3rd quarter. IHT Wealth Management LLC now owns 11,635 shares of the financial services provider’s stock valued at $529,000 after buying an additional 697 shares in the last quarter. Finally, Morse Asset Management Inc bought a new position in U.S. Bancorp in the 3rd quarter worth approximately $229,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 5.2 %

NYSE USB opened at $36.78 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $44.92 and its two-hundred day simple moving average is $47.43. U.S. Bancorp has a twelve month low of $35.74 and a twelve month high of $53.98. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. Bank of America lowered their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Friday, March 28th. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.89.

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.