Brindle & Bay Financial Advisors LLC Makes New $795,000 Investment in U.S. Bancorp $USB

Brindle & Bay Financial Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 14,893 shares of the financial services provider’s stock, valued at approximately $795,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. SG Americas Securities LLC grew its position in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after buying an additional 4,210,676 shares in the last quarter. AQR Capital Management LLC boosted its position in U.S. Bancorp by 354.5% during the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after purchasing an additional 2,227,103 shares in the last quarter. Vanguard Group Inc. boosted its position in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in U.S. Bancorp by 16.4% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,598,572 shares of the financial services provider’s stock worth $560,559,000 after acquiring an additional 1,631,550 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in U.S. Bancorp in the third quarter worth about $78,684,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.8%

U.S. Bancorp stock opened at $55.62 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52 week low of $39.28 and a 52 week high of $61.19. The company has a market capitalization of $86.34 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.02 and a beta of 1.01. The stock has a 50-day moving average price of $54.25 and a 200 day moving average price of $52.64.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Analyst Upgrades and Downgrades

USB has been the subject of several recent analyst reports. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. JPMorgan Chase & Co. lowered their price target on U.S. Bancorp from $62.00 to $58.00 and set an “underweight” rating for the company in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Monday, April 20th. Finally, Argus lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.18.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.