KLP Kapitalforvaltning AS Has $30.65 Million Stock Holdings in U.S. Bancorp $USB

KLP Kapitalforvaltning AS grew its stake in U.S. Bancorp (NYSE:USB) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 569,596 shares of the financial services provider’s stock after buying an additional 14,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in U.S. Bancorp were worth $30,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $25,000. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $25,000. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $26,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $28,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.4%

NYSE USB opened at $56.62 on Thursday. The business has a 50 day simple moving average of $54.31 and a 200 day simple moving average of $52.52. U.S. Bancorp has a one year low of $39.26 and a one year high of $61.19. The stock has a market capitalization of $87.88 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.03 and a beta of 1.01. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 5.08 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on USB shares. Truist Financial decreased their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Argus increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada raised their target price on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, HSBC reaffirmed a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $61.18.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.