1ST Source Bank Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

1ST Source Bank raised its position in shares of U.S. Bancorp (NYSE:USB) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,098 shares of the financial services provider’s stock after acquiring an additional 285 shares during the quarter. 1ST Source Bank’s holdings in U.S. Bancorp were worth $1,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in shares of U.S. Bancorp by 7.0% during the third quarter. OneDigital Investment Advisors LLC now owns 34,294 shares of the financial services provider’s stock worth $1,568,000 after buying an additional 2,232 shares in the last quarter. Empowered Funds LLC boosted its position in U.S. Bancorp by 9.4% during the third quarter. Empowered Funds LLC now owns 27,618 shares of the financial services provider’s stock worth $1,263,000 after acquiring an additional 2,375 shares during the last quarter. Mizuho Securities USA LLC grew its stake in U.S. Bancorp by 103.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 244,622 shares of the financial services provider’s stock valued at $11,187,000 after acquiring an additional 124,301 shares in the last quarter. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the last quarter. Finally, Accredited Investors Inc. lifted its stake in U.S. Bancorp by 14.2% in the 3rd quarter. Accredited Investors Inc. now owns 65,890 shares of the financial services provider’s stock worth $3,013,000 after purchasing an additional 8,187 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on USB shares. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Barclays upped their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % 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. Also, insider Terrance R. Dolan sold 66,317 shares of the company’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 transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last 90 days. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $42.06 on Monday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $47.80. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market cap of $65.53 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate 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%. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

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.