SlateStone Wealth LLC Grows Holdings in U.S. Bancorp (NYSE:USB)

SlateStone Wealth LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 118,033 shares of the financial services provider’s stock after acquiring an additional 1,716 shares during the quarter. SlateStone Wealth LLC’s holdings in U.S. Bancorp were worth $5,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nicholas Company Inc. raised its position in shares of U.S. Bancorp by 62.8% during the 4th quarter. Nicholas Company Inc. now owns 157,539 shares of the financial services provider’s stock valued at $7,535,000 after acquiring an additional 60,779 shares in the last quarter. Harbour Investments Inc. raised its position in shares of U.S. Bancorp by 1.4% during the 4th quarter. Harbour Investments Inc. now owns 30,823 shares of the financial services provider’s stock valued at $1,475,000 after acquiring an additional 440 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of U.S. Bancorp by 1.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 314,025 shares of the financial services provider’s stock valued at $15,020,000 after acquiring an additional 3,142 shares in the last quarter. Choate Investment Advisors raised its position in shares of U.S. Bancorp by 12.2% during the 4th quarter. Choate Investment Advisors now owns 7,877 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 856 shares in the last quarter. Finally, Natixis Advisors LLC increased its position in U.S. Bancorp by 11.7% in the fourth quarter. Natixis Advisors LLC now owns 448,139 shares of the financial services provider’s stock worth $21,434,000 after buying an additional 46,907 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the 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 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. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 2.8 %

NYSE:USB opened at $42.06 on Friday. 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 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market capitalization 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. The stock has a fifty day simple moving average of $46.90 and a 200 day simple moving average of $47.78.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results 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. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the company posted $0.99 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. DA Davidson raised 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. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently 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.