Wright Investors Service Inc. Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

Wright Investors Service Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 74.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,334 shares of the financial services provider’s stock after acquiring an additional 29,080 shares during the period. Wright Investors Service Inc.’s holdings in U.S. Bancorp were worth $2,958,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. CGC Financial Services LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth $25,000. BKM Wealth Management LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $26,000. Planned Solutions Inc. bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $27,000. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at $30,000. Finally, First Command Advisory Services Inc. bought a new position in shares of U.S. Bancorp during the third quarter valued at $35,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.5 %

Shares of NYSE:USB traded up $0.58 during trading on Thursday, hitting $40.10. The company had a trading volume of 2,862,166 shares, compared to its average volume of 8,699,199. The stock has a market cap of $62.48 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a fifty day simple moving average of $42.33 and a two-hundred day simple moving average of $39.72. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business 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 14.89% and a net margin of 13.36%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on USB. Royal Bank of Canada upped their price target on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Oppenheimer lowered their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.86.

Insider Activity

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

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.