30,890 Shares in U.S. Bancorp $USB Acquired by Steel Grove Capital Advisors LLC

Key Points

• Steel Grove Capital Advisors LLC disclosed a new fourth-quarter position in U.S. Bancorp, buying 30,890 shares valued at about $1.65 million.
• U.S. Bancorp reported better-than-expected Q1 earnings, with EPS of $1.18 versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% year over year.
• The bank continues to attract income investors with a 3.8% dividend yield, though several insiders recently sold shares and analysts currently view the stock as a Moderate Buy with an average price target of $61.20.

Steel Grove Capital Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 30,890 shares of the financial services provider's stock, valued at approximately $1,648,000.

A number of other institutional investors and hedge funds have also bought and sold shares of USB. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after buying an additional 36,863 shares in the last quarter. Empowered Funds LLC grew its stake in shares of U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after buying an additional 714 shares in the last quarter. Intech Investment Management LLC grew its stake in shares of U.S. Bancorp by 18.9% in the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock worth $1,658,000 after buying an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in U.S. Bancorp during the second quarter worth $425,000. Finally, Nebula Research & Development LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth about $701,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.7%

Shares of U.S. Bancorp stock opened at $55.20 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19. The firm has a market capitalization of $85.69 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.99 and a beta of 1.00. The firm's 50 day simple moving average is $54.22 and its two-hundred day simple moving average is $53.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company's revenue was up 4.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. U.S. Bancorp's payout ratio is currently 43.61%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on USB shares. DA Davidson reaffirmed a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Jefferies Financial Group restated a "hold" rating and issued a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. JPMorgan Chase & Co. decreased their price objective on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a report on Thursday, April 30th. Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Finally, Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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