Skba Capital Management LLC Grows Stake in U.S. Bancorp (NYSE:USB)

Skba Capital Management LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 41.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 193,775 shares of the financial services provider’s stock after acquiring an additional 56,975 shares during the quarter. Skba Capital Management LLC’s holdings in U.S. Bancorp were worth $9,268,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in USB. Norges Bank bought a new position in U.S. Bancorp in the 4th quarter worth about $777,524,000. Franklin Resources Inc. increased its position in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. lifted its position in U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $111,274,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 2.4 %

Shares of USB opened at $42.21 on Monday. The stock has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $45.74 and a two-hundred day simple moving average of $47.59.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the business posted $0.99 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on USB shares. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Truist Financial began coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

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.