First Hawaiian Bank Grows Position in U.S. Bancorp (NYSE:USB)

First Hawaiian Bank raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 37.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 37,361 shares of the financial services provider’s stock after purchasing an additional 10,145 shares during the period. First Hawaiian Bank’s holdings in U.S. Bancorp were worth $1,787,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Global Wealth Strategies & Associates boosted its stake in shares of 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 in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the second quarter worth $25,000. Frazier Financial Advisors LLC boosted its position in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $33,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of U.S. Bancorp in the 3rd quarter worth $40,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Piper Sandler lifted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday. They set a “hold” rating and a $54.00 price target on the stock. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $54.07.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $48.50 on Thursday. The firm’s fifty day moving average is $50.20 and its two-hundred day moving average is $46.40. The firm has a market cap of $75.66 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.