Carlson Capital L.P. Takes Position in U.S. Bancorp (NYSE:USB)

Carlson Capital L.P. bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 29,400 shares of the financial services provider’s stock, valued at approximately $1,406,000. U.S. Bancorp comprises approximately 0.8% of Carlson Capital L.P.’s investment portfolio, making the stock its 9th biggest holding.

Several other institutional investors also recently made changes to their positions in the stock. AMF Tjanstepension AB grew its holdings in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in U.S. Bancorp by 19.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 50,833 shares of the financial services provider’s stock worth $2,325,000 after buying an additional 8,263 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in U.S. Bancorp by 5.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 427,700 shares of the financial services provider’s stock worth $19,326,000 after buying an additional 20,407 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in U.S. Bancorp by 7.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,252 shares of the financial services provider’s stock worth $652,000 after buying an additional 955 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in U.S. Bancorp by 67.1% in the 3rd quarter. Pallas Capital Advisors LLC now owns 9,301 shares of the financial services provider’s stock worth $451,000 after buying an additional 3,735 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.5 %

Shares of USB opened at $45.67 on Thursday. The stock has a market cap of $71.24 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 1.73 and a beta of 1.04. The company has a 50-day moving average price of $47.96 and a two-hundred day moving average price of $47.77. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s 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 completion of the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, 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. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley decreased their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $54.21.

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.