Sequoia Financial Advisors LLC Raises Position in U.S. Bancorp (NYSE:USB)

Sequoia Financial Advisors LLC raised its stake in shares of U.S. Bancorp (NYSE:USB) by 32.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,955 shares of the financial services provider’s stock after purchasing an additional 32,355 shares during the period. Sequoia Financial Advisors LLC’s holdings in U.S. Bancorp were worth $6,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. grew its stake in shares of U.S. Bancorp by 5.2% during the fourth 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 position in shares of U.S. Bancorp during the fourth quarter valued at approximately $111,274,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 2.0 %

Shares of NYSE:USB opened at $40.87 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business’s fifty day simple moving average is $47.03 and its 200-day simple moving average is $47.79. The company has a market capitalization of $63.67 billion, a PE ratio of 10.78, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

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 for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.89%. U.S. Bancorp’s payout ratio is 52.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on USB shares. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. 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. Finally, Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.21.

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.