Harvest Fund Management Co. Ltd Invests $420,000 in U.S. Bancorp (NYSE:USB)

Harvest Fund Management Co. Ltd purchased a new position in U.S. Bancorp (NYSE:USB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,780 shares of the financial services provider's stock, valued at approximately $420,000.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Oppenheimer boosted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Barclays upped their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Piper Sandler upgraded shares of 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. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Finally, Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $53.48.

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U.S. Bancorp Stock Up 0.1 %

Shares of U.S. Bancorp stock traded up $0.04 on Wednesday, reaching $43.74. 9,585,235 shares of the company were exchanged, compared to its average volume of 10,848,077. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $46.11 and a 200 day moving average of $47.63. The company has a market capitalization of $68.15 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 1.73 and a beta of 1.02.

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 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share 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. Investors 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 4.57%. The ex-dividend date is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,230,316 shares of the company's stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company's stock, 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. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Company 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.