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

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

Other hedge funds have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC grew its position in shares of U.S. Bancorp by 7.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 34,294 shares of the financial services provider’s stock worth $1,568,000 after buying an additional 2,232 shares during the period. Empowered Funds LLC grew its holdings in U.S. Bancorp by 9.4% during the 3rd quarter. Empowered Funds LLC now owns 27,618 shares of the financial services provider’s stock worth $1,263,000 after acquiring an additional 2,375 shares during the period. Mizuho Securities USA LLC raised its position in shares of U.S. Bancorp by 103.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 244,622 shares of the financial services provider’s stock valued at $11,187,000 after acquiring an additional 124,301 shares during the last quarter. Natixis Advisors LLC raised its position in shares of U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the last quarter. Finally, Accredited Investors Inc. lifted its stake in shares of U.S. Bancorp by 14.2% in the 3rd quarter. Accredited Investors Inc. now owns 65,890 shares of the financial services provider’s stock valued at $3,013,000 after purchasing an additional 8,187 shares during the period. Institutional investors own 77.60% of the company’s stock.

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. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock has a market capitalization of $65.53 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a 50 day moving average of $46.90 and a 200-day moving average of $47.80.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results 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 net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the previous year, the business earned $0.99 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Ratings Changes

USB has been the subject of a number of recent analyst reports. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Thursday, December 19th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Monday, January 13th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Truist Financial assumed coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.21.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % 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 worth $10,385,665 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

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.