CoreFirst Bank & Trust Invests $86,000 in U.S. Bancorp (NYSE:USB)

CoreFirst Bank & Trust bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,800 shares of the financial services provider’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in shares of U.S. Bancorp by 63.1% in the 3rd quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock worth $699,000 after purchasing an additional 5,911 shares during the period. Swedbank AB raised its stake in U.S. Bancorp by 5.1% in the third quarter. Swedbank AB now owns 541,266 shares of the financial services provider’s stock worth $24,752,000 after buying an additional 26,281 shares in the last quarter. Larson Financial Group LLC lifted its holdings in U.S. Bancorp by 49.6% in the third quarter. Larson Financial Group LLC now owns 10,800 shares of the financial services provider’s stock worth $494,000 after buying an additional 3,579 shares during the period. Daiwa Securities Group Inc. boosted its position in U.S. Bancorp by 12.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 190,498 shares of the financial services provider’s stock valued at $8,711,000 after acquiring an additional 20,734 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of U.S. Bancorp by 4.6% during the 3rd quarter. Independent Advisor Alliance now owns 56,776 shares of the financial services provider’s stock worth $2,596,000 after acquiring an additional 2,475 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several research reports. Compass Point lifted their price target 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. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Barclays boosted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial assumed coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.48.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the 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 transaction, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now 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 have sold a total of 219,812 shares of company stock worth $10,385,665 in the last ninety days. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $43.70 on Wednesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a 50-day moving average of $46.11 and a 200 day moving average of $47.63. 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 company has a market capitalization of $68.09 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.58%. U.S. Bancorp’s payout ratio is 52.77%.

About U.S. Bancorp

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.