DNB Asset Management AS Acquires 9,614 Shares of U.S. Bancorp $USB

DNB Asset Management AS raised its holdings in U.S. Bancorp (NYSE:USB) by 3.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,271 shares of the financial services provider’s stock after acquiring an additional 9,614 shares during the period. DNB Asset Management AS’s holdings in U.S. Bancorp were worth $14,705,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hohimer Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $4,152,000. Choreo LLC boosted its position in U.S. Bancorp by 0.4% in the third quarter. Choreo LLC now owns 90,999 shares of the financial services provider’s stock valued at $4,444,000 after buying an additional 341 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its position in U.S. Bancorp by 6.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 31,696 shares of the financial services provider’s stock valued at $1,532,000 after buying an additional 2,012 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of U.S. Bancorp by 5.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,113,342 shares of the financial services provider’s stock worth $150,468,000 after buying an additional 152,273 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. increased its holdings in shares of U.S. Bancorp by 51.9% during the third quarter. Total Clarity Wealth Management Inc. now owns 38,723 shares of the financial services provider’s stock worth $1,872,000 after buying an additional 13,232 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Barclays lifted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. HSBC reaffirmed a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a report on Thursday. Finally, Argus upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.02.

U.S. Bancorp Stock Performance

NYSE:USB opened at $54.57 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $61.19. The company has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $51.19. The company has a market capitalization of $84.78 billion, a PE ratio of 11.81, a P/E/G ratio of 0.98 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the firm posted $1.07 EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

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.