Spinnaker Trust Invests $220,000 in U.S. Bancorp (NYSE:USB)

Spinnaker Trust acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, Holdings Channel reports. The fund acquired 5,086 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Mufg Bank LTD. raised its holdings in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after acquiring an additional 24,000,000 shares in the last quarter. Aristotle Capital Management LLC raised its stake in U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after buying an additional 17,066,479 shares during the period. Vanguard Group Inc. raised its stake in U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after buying an additional 6,479,642 shares during the period. Barclays PLC raised its stake in U.S. Bancorp by 120.4% in the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock valued at $291,285,000 after buying an additional 4,813,976 shares during the period. Finally, Ceredex Value Advisors LLC bought a new stake in U.S. Bancorp in the third quarter valued at approximately $79,642,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

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

U.S. Bancorp Trading Up 0.3 %

Shares of USB stock traded up $0.13 during mid-day trading on Friday, hitting $41.12. The company’s stock had a trading volume of 4,512,229 shares, compared to its average volume of 7,300,433. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The company’s fifty day simple moving average is $42.34 and its 200-day simple moving average is $40.11. The company has a market cap of $64.07 billion, a PE ratio of 13.62, a P/E/G ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85.

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

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Morgan Stanley upped their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Oppenheimer decreased their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Jefferies Financial Group upped their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada upped their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.14.

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.