Occudo Quantitative Strategies LP Buys Shares of 19,119 U.S. Bancorp (NYSE:USB)

Occudo Quantitative Strategies LP purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,119 shares of the financial services provider's stock, valued at approximately $914,000.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank raised its stake in U.S. Bancorp by 6.4% during the 4th quarter. Czech National Bank now owns 338,246 shares of the financial services provider's stock valued at $16,178,000 after buying an additional 20,364 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter worth $296,000. Brookstone Capital Management increased its position in U.S. Bancorp by 7.1% during the fourth quarter. Brookstone Capital Management now owns 244,688 shares of the financial services provider's stock valued at $11,703,000 after acquiring an additional 16,293 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in U.S. Bancorp by 18.9% in the fourth quarter. Capital Investment Advisors LLC now owns 7,149 shares of the financial services provider's stock valued at $342,000 after acquiring an additional 1,135 shares during the period. Finally, Wedmont Private Capital lifted its holdings in U.S. Bancorp by 19.8% in the fourth quarter. Wedmont Private Capital now owns 22,913 shares of the financial services provider's stock valued at $1,086,000 after acquiring an additional 3,790 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on USB. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Piper Sandler reduced 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 report on Thursday, April 17th. Morgan Stanley decreased their price target on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Citigroup cut their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Finally, Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $50.48.

U.S. Bancorp Stock Up 0.8%

NYSE USB opened at $44.35 on Wednesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market cap of $69.10 billion, a PE ratio of 11.70, a P/E/G ratio of 1.73 and a beta of 0.97. The stock's 50 day moving average is $40.69 and its 200 day moving average is $46.08.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.51%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

Insider Activity

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

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