U.S. Bancorp $USB Stake Increased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 311,520 shares of the financial services provider’s stock after buying an additional 56,000 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in U.S. Bancorp were worth $15,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of USB. IMG Wealth Management Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter worth approximately $25,000. Guerra Advisors Inc acquired a new position in U.S. Bancorp in the 3rd quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp in the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $27,000. Finally, Pineridge Advisors LLC boosted its stake in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 522 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent research reports. Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Truist Financial upped their target price on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods raised their price target on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. DA Davidson boosted their price target on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, Oppenheimer raised their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Stock Down 1.9%

USB opened at $57.82 on Friday. The firm has a market cap of $89.87 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50 day moving average price of $55.30 and a 200 day moving average price of $50.23. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the previous year, the company earned $1.07 earnings per share. U.S. Bancorp’s revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.