Forsta AP Fonden Buys 3,900 Shares of U.S. Bancorp (NYSE:USB)

Forsta AP Fonden lifted its stake in U.S. Bancorp (NYSE:USB) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,000 shares of the financial services provider’s stock after acquiring an additional 3,900 shares during the period. Forsta AP Fonden’s holdings in U.S. Bancorp were worth $15,832,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Nvest Financial LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at $336,000. Foster Victor Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter worth $9,091,000. Robeco Institutional Asset Management B.V. raised its position in shares of U.S. Bancorp by 305.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 312,569 shares of the financial services provider’s stock worth $14,950,000 after acquiring an additional 235,546 shares during the last quarter. Deane Retirement Strategies Inc. increased its holdings in U.S. Bancorp by 1.0% in the fourth quarter. Deane Retirement Strategies Inc. now owns 70,753 shares of the financial services provider’s stock valued at $3,384,000 after purchasing an additional 667 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in U.S. Bancorp by 1,131.4% in the fourth quarter. SteelPeak Wealth LLC now owns 180,292 shares of the financial services provider’s stock valued at $8,714,000 after purchasing an additional 165,651 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.65 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market cap of $74.34 billion, a P/E ratio of 12.57, a PEG ratio of 1.81 and a beta of 1.05. The company has a 50 day moving average of $49.93 and a 200 day moving average of $47.30.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.20%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Compass Point upped their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.