KLP Kapitalforvaltning AS Invests $25.98 Million in U.S. Bancorp (NYSE:USB)

KLP Kapitalforvaltning AS bought a new position in shares of U.S. Bancorp (NYSE:USB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 538,396 shares of the financial services provider's stock, valued at approximately $25,980,000.

Several other hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in shares of U.S. Bancorp by 5.2% during the fourth quarter. Sei Investments Co. now owns 2,308,428 shares of the financial services provider's stock valued at $110,412,000 after purchasing an additional 114,777 shares during the last quarter. American Century Companies Inc. grew its stake in U.S. Bancorp by 1.0% during the 4th quarter. American Century Companies Inc. now owns 8,576,856 shares of the financial services provider's stock worth $410,231,000 after buying an additional 87,687 shares during the last quarter. Plancorp LLC increased its position in U.S. Bancorp by 1.2% in the fourth quarter. Plancorp LLC now owns 45,213 shares of the financial services provider's stock worth $2,163,000 after buying an additional 533 shares during the period. Mizuho Securities USA LLC lifted its stake in U.S. Bancorp by 46.1% in the fourth quarter. Mizuho Securities USA LLC now owns 147,856 shares of the financial services provider's stock valued at $7,072,000 after buying an additional 46,668 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $288,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Trading Down 1.2 %

Shares of NYSE:USB traded down $0.52 during mid-day trading on Thursday, hitting $43.25. The stock had a trading volume of 8,171,117 shares, compared to its average volume of 8,069,904. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. 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 company has a market cap of $67.39 billion, a PE ratio of 11.41, a P/E/G ratio of 1.73 and a beta of 1.02. The company's 50 day moving average is $45.96 and its 200-day moving average is $47.60.

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U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.62%. U.S. Bancorp's dividend payout ratio is 52.77%.

Insider Transactions at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the company's 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 sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the 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 transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was 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 three months. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on USB shares. Piper Sandler upgraded shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Raymond James raised U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Compass Point lifted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Oppenheimer increased their target price 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. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $53.48.

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.