New Age Alpha Advisors LLC Takes $2.43 Million Position in U.S. Bancorp (NYSE:USB)

New Age Alpha Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB) during the fourth quarter, HoldingsChannel reports. The fund bought 50,801 shares of the financial services provider’s stock, valued at approximately $2,430,000.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. International Assets Investment Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $1,018,000. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares in the last quarter. M&T Bank Corp lifted its holdings in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Keystone Financial Planning Inc. increased its stake in shares of U.S. Bancorp by 29.5% in the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after purchasing an additional 16,552 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 2.4 %

Shares of NYSE:USB opened at $42.21 on Friday. The company has a 50-day moving average price of $45.74 and a 200 day moving average price of $47.57. The company has a current ratio of 0.81, a quick ratio of 0.80 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. The company has a market cap of $65.77 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its 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 analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share 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. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on USB shares. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Bank of America lowered their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Oppenheimer increased their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company lowered their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group cut their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.21.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

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.