Sierra Ocean LLC Acquires New Holdings in U.S. Bancorp (NYSE:USB)

Sierra Ocean LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,681 shares of the financial services provider’s stock, valued at approximately $80,000.

A number of other institutional investors have also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $207,000. J.W. Cole Advisors Inc. grew its holdings in U.S. Bancorp by 6.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 15,146 shares of the financial services provider’s stock valued at $724,000 after purchasing an additional 894 shares during the period. JNBA Financial Advisors grew its holdings in U.S. Bancorp by 7.3% during the fourth quarter. JNBA Financial Advisors now owns 7,174 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 491 shares during the period. Secured Retirement Advisors LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $1,198,000. Finally, Strategic Financial Concepts LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $971,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.73 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average price is $48.61 and its two-hundred day moving average price is $47.53. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm has a market capitalization of $74.46 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Activity

In other news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the company’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 completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.