Tocqueville Asset Management L.P. Has $25.50 Million Stock Position in U.S. Bancorp (NYSE:USB)

Tocqueville Asset Management L.P. grew its position in U.S. Bancorp (NYSE:USB) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 533,065 shares of the financial services provider’s stock after acquiring an additional 1,853 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in U.S. Bancorp were worth $25,496,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $26,000. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the last quarter. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates grew its position in U.S. Bancorp by 70.8% in the fourth 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 in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.4 %

U.S. Bancorp stock opened at $42.19 on Tuesday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a market cap of $65.72 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $46.76 and a two-hundred day moving average price of $47.76.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on USB shares. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Barclays raised their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Compass Point upped their target price on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and twelve have assigned 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 $53.98.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. 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 in the last 90 days. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Company 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.