U.S. Bancorp (NYSE:USB) Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 321,218 shares of the financial services provider's stock after acquiring an additional 83,725 shares during the period. Bank of Nova Scotia's holdings in U.S. Bancorp were worth $15,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. FIL Ltd grew its position in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares in the last quarter. Shelton Capital Management increased its position in shares of U.S. Bancorp by 3.6% during the fourth quarter. Shelton Capital Management now owns 9,740 shares of the financial services provider's stock worth $466,000 after acquiring an additional 338 shares during the period. Invesco Ltd. raised its stake in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Bank of Montreal Can boosted its holdings in U.S. Bancorp by 29.4% in the fourth quarter. Bank of Montreal Can now owns 4,326,254 shares of the financial services provider's stock valued at $206,925,000 after purchasing an additional 983,795 shares during the period. Finally, Cerity Partners LLC grew its stake in U.S. Bancorp by 4.0% during the 4th quarter. Cerity Partners LLC now owns 725,231 shares of the financial services provider's stock worth $34,302,000 after purchasing an additional 28,172 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

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U.S. Bancorp Price Performance

NYSE:USB traded up $0.42 during mid-day trading on Tuesday, hitting $38.62. 9,226,029 shares of the company's stock traded hands, compared to its average volume of 9,016,126. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a market cap of $60.17 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm's 50 day simple moving average is $43.28 and its 200 day simple moving average is $46.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. During the same period in the previous year, the company earned $0.99 EPS. U.S. Bancorp's revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Citigroup reduced their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Bank of America cut their price target on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Barclays lifted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.52.

About U.S. Bancorp

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.