Keystone Financial Planning Inc. Purchases 16,552 Shares of U.S. Bancorp (NYSE:USB)

Keystone Financial Planning Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 29.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 72,614 shares of the financial services provider’s stock after acquiring an additional 16,552 shares during the period. U.S. Bancorp makes up approximately 1.1% of Keystone Financial Planning Inc.’s holdings, making the stock its 22nd largest holding. Keystone Financial Planning Inc.’s holdings in U.S. Bancorp were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. grew its holdings in shares of U.S. Bancorp by 4.8% during the second quarter. Oppenheimer & Co. Inc. now owns 127,406 shares of the financial services provider’s stock worth $5,058,000 after purchasing an additional 5,840 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of U.S. Bancorp by 3.4% in the 2nd quarter. Parallel Advisors LLC now owns 19,860 shares of the financial services provider’s stock worth $788,000 after buying an additional 648 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in shares of U.S. Bancorp by 128.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 21,609 shares of the financial services provider’s stock valued at $857,000 after buying an additional 12,164 shares in the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of U.S. Bancorp by 39.2% during the 2nd quarter. Wealthspire Advisors LLC now owns 42,047 shares of the financial services provider’s stock worth $1,669,000 after acquiring an additional 11,837 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in U.S. Bancorp by 22.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 146,210 shares of the financial services provider’s stock worth $5,805,000 after acquiring an additional 26,554 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 1.7 %

USB traded up $0.81 during midday trading on Monday, reaching $48.19. The company’s stock had a trading volume of 4,678,146 shares, compared to its average volume of 6,392,165. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock’s 50-day moving average is $50.20 and its 200-day moving average is $46.55. The firm has a market capitalization of $75.18 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.01 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.15%. U.S. Bancorp’s payout ratio is currently 61.16%.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on USB shares. Piper Sandler raised 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. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Compass Point lifted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Finally, Stephens lifted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.07.

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.