Swedbank AB Acquires 22,585 Shares of U.S. Bancorp $USB

Key Points

• Swedbank AB boosted its stake in U.S. Bancorp by 3.2% in the fourth quarter, buying 22,585 additional shares and bringing its total holdings to 736,306 shares worth about $39.3 million.
• U.S. Bancorp reported strong quarterly results, with EPS of $1.18 beating expectations and revenue of $7.32 billion topping estimates. Revenue also rose 4.7% year over year.
• The bank continues to pay a quarterly dividend of $0.52 per share, equal to an annualized yield of 3.8%, while analysts maintain a Moderate Buy consensus with a target price of $61.20.

Swedbank AB increased its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 736,306 shares of the financial services provider's stock after acquiring an additional 22,585 shares during the quarter. Swedbank AB's holdings in U.S. Bancorp were worth $39,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of USB. Guerra Advisors Inc bought a new stake in U.S. Bancorp during the 3rd quarter valued at about $25,000. Financial Life Planners bought a new stake in U.S. Bancorp during the 3rd quarter valued at about $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp during the 4th quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at about $28,000. Finally, Binnacle Investments Inc increased its stake in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $54.85 on Monday. The firm's 50-day moving average price is $54.07 and its 200-day moving average price is $53.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market cap of $85.14 billion, a PE ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.00. U.S. Bancorp has a 52-week low of $42.21 and a 52-week high of $61.19.

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

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 43.61%.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. UBS Group restated a "neutral" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Jefferies Financial Group restated a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Finally, Evercore raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 51,292 shares of the company's stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Company 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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