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

Key Points

• Swedbank AB raised its stake in U.S. Bancorp by 3.2% in Q4, buying 22,585 shares to hold 736,306 shares worth about $39.29 million.
• Significant insider selling occurred recently: EVP Venkatachari Dilip sold 34,522 shares (~$1.92M) and Jodi L. Richard sold 40,000 shares (~$2.28M), leaving insiders with just 0.21% ownership.
• U.S. Bancorp beat quarterly EPS estimates ($1.18 vs. $1.14), pays a $0.52 quarterly dividend (3.8% yield), and carries a consensus analyst price target of about $61.20 with a "Moderate Buy" rating.

Swedbank AB lifted its stake 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. The institutional investor owned 736,306 shares of the financial services provider's stock after acquiring an additional 22,585 shares during the period. Swedbank AB's holdings in U.S. Bancorp were worth $39,289,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Gilbert & Cook Inc. raised its position in shares of U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock worth $832,000 after acquiring an additional 184 shares in the last quarter. Genesis Private Wealth LLC raised its position in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock worth $445,000 after acquiring an additional 187 shares in the last quarter. Lantz Financial LLC raised its position in shares of U.S. Bancorp by 0.4% in the 4th quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock worth $2,634,000 after acquiring an additional 199 shares in the last quarter. Park National Corp OH raised its position in shares of U.S. Bancorp by 0.7% in the 4th quarter. Park National Corp OH now owns 27,364 shares of the financial services provider's stock worth $1,460,000 after acquiring an additional 200 shares in the last quarter. Finally, Romano Brothers AND Company raised its position in shares of U.S. Bancorp by 2.4% in the 4th quarter. Romano Brothers AND Company now owns 9,156 shares of the financial services provider's stock worth $489,000 after acquiring an additional 211 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 1.5%

U.S. Bancorp stock opened at $55.34 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The business's 50-day simple moving average is $54.05 and its two-hundred day simple moving average is $53.16. The company has a market cap of $85.90 billion, a PE ratio of 11.60, a PEG ratio of 1.01 and a beta of 1.00. U.S. Bancorp has a fifty-two week low of $41.50 and a fifty-two week high of $61.19.

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

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a research report on Wednesday, January 21st. Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. DA Davidson reaffirmed a "buy" rating and set a $65.00 target price on shares of U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Evercore upped their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.20.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.