Everence Capital Management Inc. Has $2.06 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Everence Capital Management Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 212.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,127 shares of the financial services provider’s stock after purchasing an additional 29,340 shares during the period. Everence Capital Management Inc.’s holdings in U.S. Bancorp were worth $2,063,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in USB. Global Wealth Strategies & Associates increased its stake in shares of U.S. Bancorp by 70.8% in the 4th 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 in the last quarter. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the second quarter valued at $25,000. Frazier Financial Advisors LLC raised its holdings in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the 2nd quarter worth about $33,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $40,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on USB shares. Piper Sandler increased their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. DA Davidson raised 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 research report on Thursday. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $53.88.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.1 %

USB opened at $48.86 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company’s 50-day moving average price is $50.17 and its two-hundred day moving average price is $46.09. The stock has a market cap of $76.22 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.03 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp declared that its board has approved a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp 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.