Ilmarinen Mutual Pension Insurance Co Takes $5.41 Million Position in U.S. Bancorp (NYSE:USB)

Ilmarinen Mutual Pension Insurance Co bought a new stake in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 113,000 shares of the financial services provider’s stock, valued at approximately $5,405,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Winch Advisory Services LLC grew its position in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp during the fourth quarter worth about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp in the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates raised its stake in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $36.78 on Friday. The stock’s 50 day moving average price is $44.92 and its 200 day moving average price is $47.43. The firm has a market cap of $57.30 billion, a P/E ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $35.74 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 12.94% and a net margin of 14.75%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal 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 dividend on an annualized basis and a dividend yield of 5.44%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were 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 owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America dropped 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. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Finally, Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.89.

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.