CoreFirst Bank & Trust Makes New Investment in U.S. Bancorp (NYSE:USB)

CoreFirst Bank & Trust acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 1,800 shares of the financial services provider’s stock, valued at approximately $86,000.

Other hedge funds also recently made changes to their positions in the company. Prudential Financial Inc. lifted its holdings in U.S. Bancorp by 82.1% during the fourth quarter. Prudential Financial Inc. now owns 2,772,635 shares of the financial services provider’s stock valued at $132,615,000 after purchasing an additional 1,250,081 shares in the last quarter. Minneapolis Portfolio Management Group LLC raised its position in shares of U.S. Bancorp by 0.6% during the 4th quarter. Minneapolis Portfolio Management Group LLC now owns 575,015 shares of the financial services provider’s stock valued at $27,503,000 after purchasing an additional 3,532 shares during the period. Woodmont Investment Counsel LLC lifted its stake in shares of U.S. Bancorp by 91.3% during the 4th quarter. Woodmont Investment Counsel LLC now owns 30,832 shares of the financial services provider’s stock valued at $1,475,000 after buying an additional 14,715 shares in the last quarter. United Services Automobile Association boosted its holdings in U.S. Bancorp by 2.1% in the 4th quarter. United Services Automobile Association now owns 35,088 shares of the financial services provider’s stock worth $1,678,000 after buying an additional 709 shares during the period. Finally, Crowley Wealth Management Inc. purchased a new stake in U.S. Bancorp in the 4th quarter worth $135,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

NYSE:USB opened at $43.70 on Wednesday. The firm has a market capitalization of $68.09 billion, a price-to-earnings ratio of 11.53, a PEG 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. The business has a 50 day simple moving average of $46.11 and a 200-day simple moving average of $47.63. 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 quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid 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 4.58%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Compass Point boosted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup lowered their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.48.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.