Carlson Capital L.P. Acquires New Holdings in U.S. Bancorp $USB

Carlson Capital L.P. bought a new position in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, HoldingsChannel reports. The firm bought 15,000 shares of the financial services provider’s stock, valued at approximately $725,000.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Brighton Jones LLC raised its holdings in U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC grew its holdings in shares of U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in U.S. Bancorp in the second quarter valued at approximately $425,000. Finally, Belpointe Asset Management LLC boosted its stake in U.S. Bancorp by 9.0% in the second quarter. Belpointe Asset Management LLC now owns 9,221 shares of the financial services provider’s stock valued at $417,000 after acquiring an additional 759 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on USB shares. Evercore raised their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday. Oppenheimer lifted their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a report on Thursday, October 23rd. Finally, Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.90.

U.S. Bancorp Stock Up 2.8%

NYSE USB opened at $60.74 on Friday. The stock’s 50 day simple moving average is $54.57 and its 200 day simple moving average is $49.86. The firm has a market cap of $94.42 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.06 and a beta of 1.06. U.S. Bancorp has a one year low of $35.18 and a one year high of $60.91. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

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.