Perennial Advisors LLC Raises Position in U.S. Bancorp (NYSE:USB)

Perennial Advisors LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.8% during the first quarter, HoldingsChannel reports. The firm owned 99,723 shares of the financial services provider’s stock after purchasing an additional 7,241 shares during the quarter. Perennial Advisors LLC’s holdings in U.S. Bancorp were worth $4,211,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $26,000. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $28,000. Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $30,000. Picton Mahoney Asset Management purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $30,000. Finally, Millstone Evans Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 2.5%

NYSE:USB opened at $44.76 on Friday. The company has a market capitalization of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $45.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period last year, the firm earned $0.78 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Bank of America cut their target price 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. Piper Sandler lowered their price target on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Barclays lowered their price target on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.67.

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.