U.S. Bancorp (NYSE:USB) Shares Acquired by Sandhill Capital Partners LLC

Sandhill Capital Partners LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 13.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,182,616 shares of the financial services provider’s stock after acquiring an additional 137,729 shares during the quarter. U.S. Bancorp makes up approximately 4.3% of Sandhill Capital Partners LLC’s portfolio, making the stock its 7th biggest holding. Sandhill Capital Partners LLC’s holdings in U.S. Bancorp were worth $51,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Scotia Capital Inc. increased its holdings in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares during the last quarter. Tealwood Asset Management Inc. increased its holdings in shares of U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $4,073,000. abrdn plc increased its holdings in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after purchasing an additional 272,976 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after purchasing an additional 1,410,324 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on USB shares. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Morgan Stanley increased their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Royal Bank of Canada increased their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.14.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Down 1.5 %

NYSE:USB traded down $0.62 during midday trading on Thursday, reaching $40.99. The company had a trading volume of 5,949,478 shares, compared to its average volume of 8,759,399. The firm has a market capitalization of $63.87 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.12 and a beta of 1.05. The stock’s fifty day simple moving average is $42.36 and its 200-day simple moving average is $40.04. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.16 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

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.