Woodmont Investment Counsel LLC Increases Holdings in U.S. Bancorp (NYSE:USB)

Woodmont Investment Counsel LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 91.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,832 shares of the financial services provider’s stock after purchasing an additional 14,715 shares during the period. Woodmont Investment Counsel LLC’s holdings in U.S. Bancorp were worth $1,475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of USB. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in U.S. Bancorp by 4.8% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 287,348 shares of the financial services provider’s stock valued at $13,140,000 after purchasing an additional 13,165 shares during the period. Intech Investment Management LLC increased its holdings in U.S. Bancorp by 63.1% during the 3rd quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock valued at $699,000 after purchasing an additional 5,911 shares during the period. Meridian Wealth Management LLC purchased a new position in U.S. Bancorp during the 3rd quarter valued at about $443,000. Cerity Partners LLC increased its holdings in U.S. Bancorp by 17.0% during the 3rd quarter. Cerity Partners LLC now owns 697,059 shares of the financial services provider’s stock valued at $31,881,000 after purchasing an additional 101,264 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in shares of U.S. Bancorp by 3.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 82,499 shares of the financial services provider’s stock worth $3,773,000 after acquiring an additional 3,013 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % 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 in the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on USB shares. Bank of America reduced their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

U.S. Bancorp Price Performance

NYSE USB opened at $42.77 on Monday. The business’s fifty day moving average price is $46.31 and its 200-day moving average price is $47.65. The stock has a market capitalization of $66.63 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. U.S. Bancorp’s payout ratio is 52.77%.

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.