GAMMA Investing LLC Invests $513,000 in U.S. Bancorp (NYSE:USB)

GAMMA Investing LLC purchased a new position in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,344 shares of the financial services provider’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scotia Capital Inc. increased its position in U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the period. Tealwood Asset Management Inc. lifted its position in shares of U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after buying an additional 15,665 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $4,073,000. Van ECK Associates Corp increased its holdings in shares of U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after purchasing an additional 1,410,324 shares during the period. Finally, abrdn plc grew its holdings in shares of U.S. Bancorp by 71.9% in the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after purchasing an additional 272,976 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. HSBC raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. UBS Group dropped their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Morgan Stanley upped their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada lifted their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average target price of $46.14.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 1.1 %

Shares of USB stock traded up $0.45 during mid-day trading on Wednesday, reaching $41.42. 3,128,205 shares of the stock traded hands, compared to its average volume of 8,740,720. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock’s fifty day simple moving average is $42.34 and its two-hundred day simple moving average is $40.03. The company has a market cap of $64.54 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.73%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

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.