DnB Asset Management AS Has $29.01 Million Position in U.S. Bancorp (NYSE:USB)

DnB Asset Management AS lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 606,525 shares of the financial services provider’s stock after purchasing an additional 2,855 shares during the period. DnB Asset Management AS’s holdings in U.S. Bancorp were worth $29,010,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in USB. Norges Bank bought a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $777,524,000. Franklin Resources Inc. increased its position in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp in the 4th quarter valued at $184,733,000. Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new stake in shares of U.S. Bancorp in the fourth quarter worth $111,274,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 2.4 %

NYSE USB opened at $42.21 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. The firm’s 50-day moving average is $45.74 and its two-hundred day moving average is $47.55. 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 issued 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. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company 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 dividend of $0.50 per share. 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 is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the firm’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 sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Friday. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.21.

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.