Fmr LLC Increases Stock Position in U.S. Bancorp (NYSE:USB)

Fmr LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,125,746 shares of the financial services provider’s stock after buying an additional 3,211,815 shares during the period. Fmr LLC owned approximately 4.30% of U.S. Bancorp worth $3,210,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $777,524,000. Franklin Resources Inc. grew its holdings in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $184,733,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after buying an additional 2,460,845 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $111,274,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on USB. Morgan Stanley decreased their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America decreased their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday. 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 research note on Tuesday, December 10th. Finally, Barclays lifted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $52.89.

U.S. Bancorp Price Performance

USB opened at $36.78 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 stock’s 50 day simple moving average is $44.92 and its 200 day simple moving average is $47.43. The firm has a market cap of $57.30 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91. 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 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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business earned $0.99 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on 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 completion of the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

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.