Hopwood Financial Services Inc. Acquires New Stake in U.S. Bancorp (NYSE:USB)

Hopwood Financial Services Inc. acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,466 shares of the financial services provider’s stock, valued at approximately $166,000.

Several other hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $249,000. Covestor Ltd grew its holdings in U.S. Bancorp by 15.2% during the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 230 shares during the period. Sigma Planning Corp lifted its holdings in U.S. Bancorp by 10.5% in the third quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 792 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth $72,000. Finally, Kennebec Savings Bank acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth $68,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on USB shares. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $41.60 on Wednesday. The business has a 50-day moving average of $47.29 and a two-hundred day moving average of $47.89. The firm has a market capitalization of $64.81 billion, a PE ratio of 10.98, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 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 for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company posted $0.99 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

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. This represents a $2.00 annualized dividend and a yield of 4.81%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value 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 $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

About U.S. Bancorp

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.