Norden Group LLC Buys 5,110 Shares of U.S. Bancorp (NYSE:USB)

Norden Group LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 48.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,763 shares of the financial services provider’s stock after buying an additional 5,110 shares during the quarter. Norden Group LLC’s holdings in U.S. Bancorp were worth $682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CGC Financial Services LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth about $25,000. BKM Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth about $26,000. Planned Solutions Inc. purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $27,000. Naples Money Management LLC purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $30,000. Finally, Legacy Financial Group LLC purchased a new stake in U.S. Bancorp during the 3rd quarter valued at about $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were 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 of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on USB shares. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Morgan Stanley raised their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Barclays dropped their price target on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $49.00 in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Trading Down 1.6 %

USB stock opened at $40.63 on Wednesday. The firm has a fifty day moving average price of $42.33 and a 200 day moving average price of $40.34. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week 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 firm has a market cap of $63.31 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its 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. The firm had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

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.