Penobscot Investment Management Company Inc. Buys 522 Shares of U.S. Bancorp (NYSE:USB)

Penobscot Investment Management Company Inc. increased its position in U.S. Bancorp (NYSE:USB) by 4.6% during the 4th quarter, Holdings Channel reports. The firm owned 11,753 shares of the financial services provider’s stock after acquiring an additional 522 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in U.S. Bancorp were worth $562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Summitry LLC raised its holdings in shares of U.S. Bancorp by 2.2% in the fourth quarter. Summitry LLC now owns 113,788 shares of the financial services provider’s stock valued at $5,442,000 after acquiring an additional 2,440 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in U.S. Bancorp during the 4th quarter valued at about $32,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of U.S. Bancorp by 9.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 791,084 shares of the financial services provider’s stock valued at $37,838,000 after purchasing an additional 67,011 shares in the last quarter. Potentia Wealth purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $314,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of U.S. Bancorp by 12.5% during the fourth quarter. Zions Bancorporation N.A. now owns 193,606 shares of the financial services provider’s stock valued at $9,260,000 after purchasing an additional 21,535 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction that occurred 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 in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on 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 sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $43.74 on Thursday. The firm has a market capitalization of $68.15 billion, a price-to-earnings ratio of 11.54, 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 company’s 50-day moving average is $45.96 and its two-hundred day moving average is $47.60. 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, topping analysts’ consensus estimates of $1.06 by $0.01. The business 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.57%. U.S. Bancorp’s payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on USB shares. Morgan Stanley cut their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Barclays increased their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Oppenheimer lifted their price objective on shares of 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, Compass Point raised their target price 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. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $53.48.

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.