U.S. Bancorp (NYSE:USB) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc lifted its position in shares of U.S. Bancorp (NYSE:USB) by 47.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,217 shares of the financial services provider’s stock after purchasing an additional 392 shares during the period. Versant Capital Management Inc’s holdings in U.S. Bancorp were worth $58,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC lifted its stake in shares of U.S. Bancorp by 4.7% in the 2nd quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 2,179 shares in the last quarter. Foundations Investment Advisors LLC increased its position in shares of U.S. Bancorp by 4.2% in the second quarter. Foundations Investment Advisors LLC now owns 10,867 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 443 shares in the last quarter. TD Asset Management Inc raised its stake in shares of U.S. Bancorp by 2.0% in the 2nd quarter. TD Asset Management Inc now owns 698,839 shares of the financial services provider’s stock valued at $27,744,000 after acquiring an additional 13,889 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 1.2% during the 2nd quarter. New York Life Investment Management LLC now owns 236,906 shares of the financial services provider’s stock valued at $9,405,000 after acquiring an additional 2,719 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in U.S. Bancorp by 17.8% during the 2nd quarter. Private Advisor Group LLC now owns 110,806 shares of the financial services provider’s stock worth $4,399,000 after purchasing an additional 16,745 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.86 on Monday. The stock has a market capitalization of $76.22 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The business’s fifty day moving average price is $50.20 and its 200 day moving average price is $46.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

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

U.S. Bancorp declared that its board has approved a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.09%. U.S. Bancorp’s payout ratio is currently 61.16%.

Analysts Set New Price Targets

USB has been the topic of several research reports. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $60.00 in a research report on Thursday. Barclays increased their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.88.

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.