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

First Hawaiian Bank boosted its position in shares of U.S. Bancorp (NYSE:USB) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,361 shares of the financial services provider’s stock after acquiring 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 quarter.

Several other large investors have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC increased its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares in the last quarter. Global Wealth Strategies & Associates raised its holdings in 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 acquiring an additional 250 shares during the period. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the second quarter valued at about $33,000. Finally, Kimelman & Baird LLC bought a new position in shares of U.S. Bancorp in the second quarter worth about $40,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Truist Financial began coverage on U.S. Bancorp in a report on Tuesday. They issued a “hold” rating and a $54.00 price target on the stock. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $54.07.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.4 %

Shares of NYSE:USB opened at $48.50 on Thursday. The firm has a market capitalization of $75.66 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The business has a 50 day simple moving average of $50.20 and a two-hundred day simple moving average of $46.40. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. 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 (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically 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.