KLP Kapitalforvaltning AS Purchases 14,400 Shares of U.S. Bancorp $USB

KLP Kapitalforvaltning AS boosted its position in U.S. Bancorp (NYSE:USB) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 569,596 shares of the financial services provider’s stock after purchasing an additional 14,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in U.S. Bancorp were worth $30,645,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Chemung Canal Trust Co. lifted its position in shares of U.S. Bancorp by 205.5% during the 3rd quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after acquiring an additional 45,963 shares during the period. Citigroup Inc. lifted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after acquiring an additional 41,803 shares during the period. Jones Financial Companies Lllp lifted its position in shares of U.S. Bancorp by 15.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after acquiring an additional 47,537 shares during the period. Danske Bank A S bought a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $37,162,000. Finally, Synergy Asset Management LLC lifted its position in shares of U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the period. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $56.62 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $87.88 billion, a PE ratio of 11.87, a P/E/G ratio of 1.03 and a beta of 1.01. U.S. Bancorp has a 12 month low of $39.26 and a 12 month high of $61.19. The stock has a 50-day moving average price of $54.31 and a two-hundred day moving average price of $52.52.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.29 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. Analysts expect that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on USB. Oppenheimer upped their target price on U.S. Bancorp from $71.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Monday. Finally, Truist Financial lowered their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a report on Friday, April 17th. 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 stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $61.18.

U.S. Bancorp 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.