Geode Capital Management LLC Acquires 850,763 Shares of U.S. Bancorp (NYSE:USB)

Geode Capital Management LLC increased its position in U.S. Bancorp (NYSE:USB - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,937,360 shares of the financial services provider's stock after buying an additional 850,763 shares during the quarter. Geode Capital Management LLC owned 2.18% of U.S. Bancorp worth $1,618,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Winch Advisory Services LLC boosted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock valued at $26,000 after buying an additional 490 shares during the period. FPC Investment Advisory Inc. bought a new position in shares of U.S. Bancorp during the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates increased its holdings in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock worth $29,000 after buying an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $30,000. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company's stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on USB shares. Piper Sandler upgraded U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Barclays increased their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, DA Davidson upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and increased their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.89.

U.S. Bancorp Stock Down 5.2 %

Shares of NYSE:USB traded down $2.01 during midday trading on Friday, reaching $36.78. The company's stock had a trading volume of 19,852,321 shares, compared to its average volume of 8,685,640. U.S. Bancorp has a 12-month low of $35.76 and a 12-month high of $53.98. The firm has a market capitalization of $57.30 billion, a P/E ratio of 9.70, a PEG ratio of 1.73 and a beta of 1.02. The firm has a 50 day moving average of $45.16 and a 200-day moving average of $47.46. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. The business's revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

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.