13,000 Shares in U.S. Bancorp $USB Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. bought a new stake in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,000 shares of the financial services provider’s stock, valued at approximately $628,000.

Other large investors have also recently bought and sold shares of the company. Parcion Private Wealth LLC lifted its position in shares of U.S. Bancorp by 0.4% in the third quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after purchasing an additional 218 shares in the last quarter. Curbstone Financial Management Corp increased its stake in U.S. Bancorp by 0.6% in the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after buying an additional 222 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC increased its stake in U.S. Bancorp by 0.5% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 235 shares during the last quarter. Crestwood Advisors Group LLC lifted its position in U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after buying an additional 237 shares in the last quarter. Finally, Symmetry Partners LLC boosted its stake in shares of U.S. Bancorp by 4.6% during the 3rd quarter. Symmetry Partners LLC now owns 5,366 shares of the financial services provider’s stock worth $259,000 after buying an additional 238 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on USB shares. Truist Financial lifted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. UBS Group raised their target price on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, DA Davidson boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.95.

Insider Activity at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 1.0%

USB stock opened at $53.90 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $55.15. The business’s 50 day simple moving average is $50.23 and its 200 day simple moving average is $48.09. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $83.79 billion, a PE ratio of 12.34, a PEG ratio of 0.94 and a beta of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

About U.S. Bancorp

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.