Bank of Stockton Buys 469 Shares of U.S. Bancorp (NYSE:USB)

Bank of Stockton raised its position in U.S. Bancorp (NYSE:USB) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,125 shares of the financial services provider’s stock after buying an additional 469 shares during the period. Bank of Stockton’s holdings in U.S. Bancorp were worth $639,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of USB. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp during the fourth quarter valued at about $30,000. REAP Financial Group LLC increased its holdings in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after buying an additional 297 shares during the last quarter. Millstone Evans Group LLC bought a new stake in U.S. Bancorp in the fourth quarter worth about $31,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in U.S. Bancorp in the fourth quarter valued at about $32,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Barclays decreased their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. DA Davidson dropped their price target on U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Truist Financial cut their price target on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $51.00 price objective (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.72.

Insider Activity

In other news, Director Aleem Gillani bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $44.84 on Thursday. The company’s fifty day moving average price is $42.63 and its 200-day moving average price is $44.62. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $69.86 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.68 and a beta of 0.99. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.46%. U.S. Bancorp’s payout ratio is currently 49.50%.

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.