Spinnaker Trust Buys Shares of 5,086 U.S. Bancorp (NYSE:USB)

Spinnaker Trust bought a new stake in U.S. Bancorp (NYSE:USB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,086 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CGC Financial Services LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at $27,000. Legacy Financial Group LLC acquired a new stake in U.S. Bancorp in the third quarter valued at $30,000. Finally, Naples Money Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded up $0.13 during trading on Friday, reaching $41.12. The stock had a trading volume of 4,512,229 shares, compared to its average volume of 7,300,433. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market cap of $64.07 billion, a PE ratio of 13.62, a P/E/G ratio of 2.12 and a beta of 1.05. The firm’s 50 day moving average price is $42.34 and its two-hundred day moving average price is $40.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the business earned $1.16 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. U.S. Bancorp’s payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

A number of research firms have commented on USB. Morgan Stanley raised their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. DA Davidson dropped their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Finally, Oppenheimer dropped their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.14.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.

U.S. Bancorp 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.