Basswood Capital Management L.L.C. raised its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 3.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,629,664 shares of the financial services provider’s stock after purchasing an additional 53,865 shares during the period. U.S. Bancorp accounts for approximately 3.5% of Basswood Capital Management L.L.C.’s holdings, making the stock its 6th biggest position. Basswood Capital Management L.L.C.’s holdings in U.S. Bancorp were worth $86,959,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Life Planners acquired a new position in U.S. Bancorp during the 3rd quarter valued at about $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at about $25,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter valued at about $28,000. Binnacle Investments Inc boosted its stake in U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 273 shares during the period. Finally, Rossby Financial LCC boosted its stake in U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp Stock Up 2.2%
USB stock opened at $58.90 on Friday. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The company has a market capitalization of $91.37 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The firm’s 50-day moving average is $55.25 and its two-hundred day moving average is $54.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.
Insider Transactions at U.S. Bancorp
In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% 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 currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on USB. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Jefferies Financial Group reissued a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Thursday, April 16th. Oppenheimer boosted their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $61.20.
Read Our Latest Research Report on USB
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.
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