Proficio Capital Partners LLC Takes $5.99 Million Position in U.S. Bancorp (NYSE:USB)

Proficio Capital Partners LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 125,155 shares of the financial services provider’s stock, valued at approximately $5,986,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Winch Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares in the last quarter. J.Safra Asset Management Corp bought a new position in U.S. Bancorp during the fourth quarter worth about $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the 4th quarter worth about $28,000. Frazier Financial Advisors LLC boosted its holdings 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 valued at $29,000 after purchasing an additional 441 shares during the period. Finally, Global Wealth Strategies & Associates grew its position in shares of U.S. Bancorp by 70.8% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on USB. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Barclays raised their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Compass Point upped their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Price Performance

Shares of USB opened at $42.06 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a market cap of $65.53 billion, a PE ratio of 11.10, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business has a 50-day simple moving average of $46.90 and a two-hundred day simple moving average of $47.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.