Penobscot Investment Management Company Inc. Purchases 522 Shares of U.S. Bancorp (NYSE:USB)

Penobscot Investment Management Company Inc. grew its holdings in U.S. Bancorp (NYSE:USB) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,753 shares of the financial services provider’s stock after acquiring an additional 522 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in U.S. Bancorp were worth $562,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its stake in 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 worth $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

NYSE USB opened at $43.74 on Thursday. 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 business’s fifty day moving average is $45.96 and its 200 day moving average is $47.60. The company has a market capitalization of $68.15 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. 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 report on Monday, January 13th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Barclays lifted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.48.

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.