New York Life Investment Management LLC Purchases 1,015 Shares of U.S. Bancorp (NYSE:USB)

New York Life Investment Management LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 0.4% in the fourth quarter, Holdings Channel reports. The fund owned 230,919 shares of the financial services provider’s stock after buying an additional 1,015 shares during the quarter. New York Life Investment Management LLC’s holdings in U.S. Bancorp were worth $11,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Winch Advisory Services LLC lifted its position in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates lifted its holdings in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC grew its stake in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 1.0 %

USB opened at $46.22 on Friday. The firm has a market cap of $72.10 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.73 and a beta of 1.04. 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 firm’s 50-day simple moving average is $47.93 and its 200-day simple moving average is $47.76. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. U.S. Bancorp’s dividend payout ratio is 52.77%.

Wall Street Analyst Weigh In

USB has been the subject of several research analyst reports. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Wells Fargo & Company upped their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Barclays raised their price objective 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the firm’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 completion of the sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by insiders.

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.