Transcend Capital Advisors LLC Raises Holdings in U.S. Bancorp (NYSE:USB)

Transcend Capital Advisors LLC grew its position in U.S. Bancorp (NYSE:USB) by 5.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,196 shares of the financial services provider’s stock after purchasing an additional 252 shares during the quarter. Transcend Capital Advisors LLC’s holdings in U.S. Bancorp were worth $249,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth $1,012,000. Boston Financial Mangement LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth $204,000. First Bank & Trust lifted its holdings in shares of U.S. Bancorp by 5.4% in the 4th quarter. First Bank & Trust now owns 81,297 shares of the financial services provider’s stock worth $3,888,000 after buying an additional 4,162 shares during the period. RW Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. RW Investment Management LLC now owns 49,932 shares of the financial services provider’s stock worth $2,388,000 after buying an additional 582 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of U.S. Bancorp by 10.3% in the 4th quarter. Handelsbanken Fonder AB now owns 438,943 shares of the financial services provider’s stock worth $20,995,000 after buying an additional 41,059 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated 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 owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now owns 209,482 shares in the company, 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 have sold 219,812 shares of company stock worth $10,385,665 over the last quarter. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 1.9 %

Shares of USB stock opened at $45.88 on Monday. The stock’s 50-day simple moving average is $48.19 and its 200-day simple moving average is $47.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market capitalization of $71.57 billion, a PE ratio of 12.10, a P/E/G ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced 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. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

USB has been the subject of a number of analyst reports. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point upped their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Truist Financial initiated coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Raymond James upgraded 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 note on Thursday, December 19th. Finally, Oppenheimer upped 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.