Perennial Advisors LLC Acquires New Shares in U.S. Bancorp (NYSE:USB)

Perennial Advisors LLC bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 92,482 shares of the financial services provider's stock, valued at approximately $4,424,000.

Several other large investors also recently modified their holdings of USB. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $26,000. FPC Investment Advisory Inc. bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp in the 4th quarter valued at $30,000. Finally, Millstone Evans Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter valued at $31,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on USB. Piper Sandler cut their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays lowered their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Cowen assumed coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Cowen assumed coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a "buy" rating on the stock. Finally, Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.89.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.53 on Thursday, reaching $43.76. 6,372,827 shares of the stock were exchanged, compared to its average volume of 9,074,507. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $68.18 billion, a PE ratio of 11.55, a P/E/G ratio of 1.73 and a beta of 0.97. The firm's 50 day moving average is $41.01 and its 200-day moving average is $45.72. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.57%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.