Harbour Investments Inc. Grows Holdings in U.S. Bancorp (NYSE:USB)

Harbour Investments Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 1.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 30,823 shares of the financial services provider’s stock after acquiring an additional 440 shares during the quarter. Harbour Investments Inc.’s holdings in U.S. Bancorp were worth $1,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group lifted its position in shares of U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 201 shares during the last quarter. Capital Performance Advisors LLP lifted its position in shares of U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares during the last quarter. HCR Wealth Advisors lifted its position in shares of U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC lifted its position in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares during the last quarter. Finally, Essex Savings Bank lifted its position in shares of U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 216 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on USB shares. Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Bank of America lowered their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday. Finally, Truist Financial assumed coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.98.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now 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 quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

USB opened at $42.23 on Wednesday. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. 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 company has a market cap of $65.80 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The firm’s 50-day moving average price is $46.63 and its 200-day moving average price is $47.73.

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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.