Skandinaviska Enskilda Banken AB publ Buys 190,714 Shares of U.S. Bancorp (NYSE:USB)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of U.S. Bancorp (NYSE:USB) by 61.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 501,564 shares of the financial services provider’s stock after purchasing an additional 190,714 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in U.S. Bancorp were worth $24,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Covestor Ltd grew its position in shares of U.S. Bancorp by 15.2% in the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 230 shares during the period. Sigma Planning Corp grew its holdings in U.S. Bancorp by 10.5% during the third quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 792 shares during the period. Nations Financial Group Inc. IA ADV acquired a new position in U.S. Bancorp during the third quarter worth approximately $263,000. Prime Capital Investment Advisors LLC raised its stake in U.S. Bancorp by 35.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider’s stock valued at $607,000 after buying an additional 3,491 shares during the period. Finally, Empower Advisory Group LLC lifted its position in shares of U.S. Bancorp by 11.3% in the third quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider’s stock valued at $257,000 after buying an additional 572 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $40.87 on Friday. The company’s 50-day moving average price is $47.03 and its two-hundred day moving average price is $47.79. The firm has a market cap of $63.67 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for 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 revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insider Activity

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction 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. The trade was a 24.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were 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 in the company, valued at $58,132,431. This trade represents a 7.66 % 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 over the last quarter. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Oppenheimer increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Barclays lifted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.