AM Investment Strategies LLC Grows Position in U.S. Bancorp (NYSE:USB)

AM Investment Strategies LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 3.0% in the fourth quarter, Holdings Channel reports. The fund owned 117,286 shares of the financial services provider’s stock after purchasing an additional 3,406 shares during the quarter. U.S. Bancorp accounts for approximately 1.4% of AM Investment Strategies LLC’s portfolio, making the stock its 13th largest position. AM Investment Strategies LLC’s holdings in U.S. Bancorp were worth $5,076,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Scotia Capital Inc. increased its holdings in shares of U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 990 shares in the last quarter. Tealwood Asset Management Inc. increased its holdings in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after buying an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new position in U.S. Bancorp in the 4th quarter worth approximately $4,073,000. abrdn plc increased its holdings in U.S. Bancorp by 71.9% in the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after buying an additional 272,976 shares during the period. Finally, Van ECK Associates Corp increased its holdings in U.S. Bancorp by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after buying an additional 1,410,324 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB stock traded down $0.62 during midday trading on Thursday, reaching $40.99. The stock had a trading volume of 5,949,478 shares, compared to its average volume of 8,759,399. The company’s fifty day simple moving average is $42.35 and its 200 day simple moving average is $40.04. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company has a market cap of $63.87 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.78%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on USB shares. Oppenheimer cut their price target on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada raised their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Finally, StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $46.14.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.