U.S. Bancorp $USB Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in U.S. Bancorp (NYSE:USB) by 2.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 421,250 shares of the financial services provider’s stock after buying an additional 9,843 shares during the quarter. Handelsbanken Fonder AB’s holdings in U.S. Bancorp were worth $20,359,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of USB. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp during the third quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in U.S. Bancorp in the 3rd quarter valued at about $26,000. Hillsdale Investment Management Inc. purchased a new position in U.S. Bancorp in the 2nd quarter valued at about $27,000. 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 worth $29,000 after purchasing an additional 522 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of U.S. Bancorp during the third quarter worth about $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Keefe, Bruyette & Woods upped their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Oppenheimer increased their price target on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their target price for the company from $61.00 to $66.00 in a research note on Thursday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $60.02.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $54.57 on Friday. The business has a 50-day moving average of $56.17 and a two-hundred day moving average of $51.19. The firm has a market capitalization of $84.78 billion, a PE ratio of 11.81, a P/E/G ratio of 0.98 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

About U.S. Bancorp

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.