U.S. Bancorp (NYSE:USB) Stock Holdings Lifted by First County Bank CT

First County Bank CT grew its holdings in U.S. Bancorp (NYSE:USB) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,335 shares of the financial services provider’s stock after purchasing an additional 680 shares during the period. First County Bank CT’s holdings in U.S. Bancorp were worth $925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC lifted its position in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. Global Wealth Strategies & Associates lifted its position in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Kimelman & Baird LLC purchased a new position in U.S. Bancorp during the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on USB shares. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average price target of $54.07.

U.S. Bancorp Stock Performance

USB stock remained flat at $48.73 during midday trading on Tuesday. The company had a trading volume of 3,557,717 shares, compared to its average volume of 5,815,513. 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 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50 day simple moving average is $50.20 and its 200-day simple moving average is $46.32. The firm has a market capitalization of $76.02 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp 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.