Benjamin F. Edwards & Company Inc. Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Benjamin F. Edwards & Company Inc. boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 271.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,755 shares of the financial services provider’s stock after acquiring an additional 85,331 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in U.S. Bancorp were worth $5,053,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Scotia Capital Inc. raised its position in U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the last quarter. Spinnaker Trust acquired a new stake in U.S. Bancorp in the fourth quarter valued at about $220,000. Tealwood Asset Management Inc. boosted its holdings in U.S. Bancorp by 33.4% in the 4th 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 in the last quarter. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $4,073,000. Finally, abrdn plc raised its stake in shares of U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after buying an additional 272,976 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on USB. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. DA Davidson reduced their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. UBS Group lowered their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Evercore ISI increased their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada boosted their price target on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $46.02.

U.S. Bancorp Trading Up 1.1 %

USB stock traded up $0.44 during midday trading on Friday, hitting $41.41. The stock had a trading volume of 5,091,249 shares, compared to its average volume of 7,675,372. The company’s 50-day moving average price is $42.32 and its 200 day moving average price is $40.35. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market cap of $64.62 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.73%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

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.