Nordea Investment Management AB Has $13.69 Million Holdings in U.S. Bancorp (NYSE:USB)

Nordea Investment Management AB grew its stake in U.S. Bancorp (NYSE:USB) by 139.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,583 shares of the financial services provider’s stock after purchasing an additional 166,168 shares during the period. Nordea Investment Management AB’s holdings in U.S. Bancorp were worth $13,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Everence Capital Management Inc. increased its stake in U.S. Bancorp by 212.8% during the fourth quarter. Everence Capital Management Inc. now owns 43,127 shares of the financial services provider’s stock valued at $2,063,000 after acquiring an additional 29,340 shares during the period. GAMMA Investing LLC boosted its position in shares of U.S. Bancorp by 12.8% during the 4th quarter. GAMMA Investing LLC now owns 36,323 shares of the financial services provider’s stock valued at $1,737,000 after acquiring an additional 4,117 shares in the last quarter. Versant Capital Management Inc increased its stake in U.S. Bancorp by 47.5% in the fourth quarter. Versant Capital Management Inc now owns 1,217 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 392 shares during the period. First Financial Bank Trust Division raised its position in U.S. Bancorp by 0.7% in the fourth quarter. First Financial Bank Trust Division now owns 31,037 shares of the financial services provider’s stock worth $1,485,000 after purchasing an additional 224 shares in the last quarter. Finally, Global Wealth Strategies & Associates lifted its stake 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 worth $29,000 after purchasing an additional 250 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.4 %

Shares of NYSE USB opened at $48.50 on Thursday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $75.66 billion, a P/E ratio of 14.83, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $50.20 and its 200 day simple moving average is $46.40.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping 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 business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its board has initiated a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

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 dividend of $0.50 per share. 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 payout ratio is 61.16%.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Oppenheimer lowered their target price on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Truist Financial began coverage on shares of U.S. Bancorp in a report on Tuesday. They set a “hold” rating and a $54.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average target price of $54.07.

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.