Bayban Makes New $4.27 Million Investment in U.S. Bancorp $USB

Bayban acquired a new position in U.S. Bancorp (NYSE:USB) during the 4th quarter, Holdings Channel reports. The firm acquired 80,047 shares of the financial services provider’s stock, valued at approximately $4,271,000. U.S. Bancorp accounts for 3.8% of Bayban’s holdings, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Taylor Securities Services Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at approximately $645,000. Pure Financial Advisors LLC boosted its stake in shares of U.S. Bancorp by 10.9% during the 4th quarter. Pure Financial Advisors LLC now owns 9,416 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 924 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $410,000. Reflection Asset Management purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth $81,000. Finally, Wick Capital Partners LLC bought a new position in U.S. Bancorp in the 4th quarter worth $401,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on USB. Royal Bank Of Canada boosted their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research report on Friday, April 17th. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Truist Financial lowered their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.29.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $58.07 on Friday. The stock’s 50-day simple moving average is $55.69 and its 200-day simple moving average is $54.86. U.S. Bancorp has a 52 week low of $42.93 and a 52 week high of $61.19. The company has a market capitalization of $90.07 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.01 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. As a group, analysts expect that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.