Pittenger & Anderson Inc. Purchases 10,000 Shares of U.S. Bancorp (NYSE:USB)

Pittenger & Anderson Inc. grew its position in shares of U.S. Bancorp (NYSE:USB) by 147.6% in the 4th quarter, HoldingsChannel reports. The fund owned 16,775 shares of the financial services provider’s stock after buying an additional 10,000 shares during the period. Pittenger & Anderson Inc.’s holdings in U.S. Bancorp were worth $726,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Scotia Capital Inc. boosted its holdings 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 acquiring an additional 990 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in U.S. Bancorp by 33.4% in the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after purchasing an additional 15,665 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in U.S. Bancorp in the 4th quarter valued at $4,073,000. abrdn plc increased its position in shares of U.S. Bancorp by 71.9% during the 4th 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 last quarter. Finally, Van ECK Associates Corp raised its stake in shares of U.S. Bancorp by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after purchasing an additional 1,410,324 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated 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 owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, 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. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.5 %

Shares of U.S. Bancorp stock traded down $0.62 during midday trading on Thursday, reaching $40.99. 5,949,516 shares of the company’s stock traded hands, compared to its average volume of 8,751,254. The company has a market cap of $63.87 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. The stock has a 50 day moving average of $42.36 and a 200-day moving average of $40.04. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the company posted $1.16 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company 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 of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.78%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Jefferies Financial Group boosted their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Morgan Stanley increased their target price on 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, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.14.

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.