Harvest Fund Management Co. Ltd Invests $420,000 in U.S. Bancorp (NYSE:USB)

Harvest Fund Management Co. Ltd bought a new position in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,780 shares of the financial services provider’s stock, valued at approximately $420,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $1,018,000. M&T Bank Corp boosted its holdings in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after acquiring an additional 38,802 shares in the last quarter. Keystone Financial Planning Inc. boosted its holdings in shares of U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after acquiring an additional 16,552 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its holdings in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after acquiring an additional 45,560 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Barclays upped their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $53.93.

U.S. Bancorp Price Performance

USB stock opened at $42.77 on Friday. The stock has a 50-day moving average price of $46.31 and a two-hundred day moving average price of $47.63. The stock has a market cap of $66.63 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last quarter. 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.