Migdal Insurance & Financial Holdings Ltd. Buys 3,615 Shares of U.S. Bancorp (NYSE:USB)

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 289.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,864 shares of the financial services provider’s stock after acquiring an additional 3,615 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in U.S. Bancorp were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Winch Advisory Services LLC lifted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Albion Financial Group UT lifted its position in U.S. Bancorp by 92.8% during the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 335 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in U.S. Bancorp during the fourth quarter valued at $33,000. 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 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on USB. Oppenheimer increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Finally, Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Trading Down 1.1 %

USB stock opened at $47.22 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $73.66 billion, a PE ratio of 12.46, a P/E/G ratio of 1.77 and a beta of 1.04. The firm’s 50-day moving average is $49.21 and its 200 day moving average is $47.42. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for 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%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

U.S. Bancorp 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.