Pinebridge Investments L.P. Grows Stock Position in U.S. Bancorp (NYSE:USB)

Pinebridge Investments L.P. grew its position in U.S. Bancorp (NYSE:USB - Free Report) by 782.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 379,599 shares of the financial services provider's stock after acquiring an additional 336,582 shares during the period. Pinebridge Investments L.P.'s holdings in U.S. Bancorp were worth $18,156,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP lifted its stake in shares of U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock valued at $392,000 after acquiring an additional 210 shares during the last quarter. HCR Wealth Advisors lifted its stake in shares of U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock valued at $962,000 after acquiring an additional 211 shares during the last quarter. Covestor Ltd raised its position in U.S. Bancorp by 12.3% during the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after purchasing an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC raised its position in U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock worth $243,000 after purchasing an additional 215 shares during the last quarter. Finally, Essex Savings Bank raised its position in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock worth $591,000 after purchasing an additional 216 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Raymond James reaffirmed an "outperform" rating and set a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a research report on Thursday, April 17th. Barclays lowered their target price on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, DA Davidson lowered their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.48.

U.S. Bancorp Stock Up 0.4 %

USB stock traded up $0.15 during mid-day trading on Tuesday, reaching $40.33. 2,540,224 shares of the company traded hands, compared to its average volume of 9,039,866. The stock has a market cap of $62.83 billion, a price-to-earnings ratio of 10.63, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm's 50 day moving average price is $41.57 and its 200 day moving average price is $46.57.

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

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.96%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

U.S. Bancorp Company Profile

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.