Grove Bank & Trust Has $1.56 Million Stock Position in U.S. Bancorp (NYSE:USB)

Grove Bank & Trust grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 18.7% during the fourth quarter, Holdings Channel reports. The firm owned 32,681 shares of the financial services provider’s stock after purchasing an additional 5,149 shares during the period. Grove Bank & Trust’s holdings in U.S. Bancorp were worth $1,563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of USB. Winch Advisory Services LLC raised its holdings in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares in the last quarter. Frazier Financial Advisors LLC increased its holdings in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of U.S. Bancorp by 70.8% during 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 during the last quarter. FNY Investment Advisers LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $38,000. Finally, Kimelman & Baird LLC acquired a new stake in U.S. Bancorp in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley dropped their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Evercore ISI boosted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.40 on Friday. The business has a 50 day simple moving average of $50.18 and a 200 day simple moving average of $46.78. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’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 earned $0.99 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

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.