Bayban Purchases New Shares in U.S. Bancorp $USB

Key Points

• Bayban disclosed a new fourth-quarter position in U.S. Bancorp, buying 80,047 shares worth about $4.27 million. The stake makes USB Bayban’s 5th largest holding and about 3.8% of its portfolio.
• Several analysts remain constructive on U.S. Bancorp, with firms including Barclays and DA Davidson raising or reiterating positive ratings. MarketBeat data shows the stock has a Moderate Buy consensus and an average price target of $61.29.
• U.S. Bancorp reported earnings that beat expectations, posting $1.18 EPS versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% year over year. The company also announced a quarterly dividend of $0.52 per share, implying a 3.6% yield.

Bayban purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,047 shares of the financial services provider's stock, valued at approximately $4,271,000. U.S. Bancorp accounts for about 3.8% of Bayban's investment portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the fourth quarter worth about $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the third quarter valued at approximately $25,000. Rossby Financial LCC boosted its position in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock worth $31,000 after purchasing an additional 212 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $28,000. Finally, Westfuller Advisors LLC grew its stake in shares of U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock worth $33,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on USB. Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. DA Davidson restated a "buy" rating and set a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.29.

Insider Transactions at U.S. Bancorp

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

U.S. Bancorp Stock Performance

USB stock opened at $58.07 on Friday. The stock's 50 day simple moving average is $55.69 and its 200 day simple moving average is $54.86. 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 $42.93 and a 12-month high of $61.19. The stock has a market capitalization of $90.07 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same period last year, the firm posted $1.03 earnings per share. U.S. Bancorp's revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.6%. U.S. Bancorp's dividend payout ratio is currently 43.61%.

About U.S. Bancorp

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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