Sierra Ocean LLC Takes $80,000 Position in U.S. Bancorp (NYSE:USB)

Sierra Ocean LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,681 shares of the financial services provider’s stock, valued at approximately $80,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB raised its holdings in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after acquiring an additional 76,914 shares during the period. nVerses Capital LLC raised its holdings in U.S. Bancorp by 44.8% in the 3rd quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,300 shares during the period. Bleakley Financial Group LLC raised its holdings in U.S. Bancorp by 8.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 44,122 shares of the financial services provider’s stock worth $2,018,000 after acquiring an additional 3,383 shares during the period. Aaron Wealth Advisors LLC raised its holdings in U.S. Bancorp by 26.5% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 7,593 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 1,590 shares during the period. Finally, Stratos Investment Management LLC bought a new position in U.S. Bancorp in the 3rd quarter worth $201,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.7 %

Shares of USB stock opened at $47.73 on Monday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market capitalization of $74.46 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.77 and a beta of 1.04. The firm has a 50-day moving average price of $48.61 and a 200 day moving average price of $47.53. 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 (NYSE:USB) last announced 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

Several research analysts recently commented on USB shares. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Compass Point raised their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer raised their price target 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. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the business’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 approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,812 shares of company stock valued at $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.