Pinnacle Bancorp Inc. Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Pinnacle Bancorp Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 29.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,769 shares of the financial services provider’s stock after buying an additional 3,150 shares during the period. Pinnacle Bancorp Inc.’s holdings in U.S. Bancorp were worth $659,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Frazier Financial Advisors LLC raised its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. Global Wealth Strategies & Associates raised its holdings 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 valued at $29,000 after buying an additional 250 shares during the period. FNY Investment Advisers LLC bought a new stake in U.S. Bancorp in the fourth quarter worth $38,000. Kimelman & Baird LLC purchased a new position in U.S. Bancorp during the second quarter worth $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of U.S. Bancorp in the third quarter valued at $40,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 3.8 %

NYSE:USB opened at $50.92 on Thursday. The stock has a market capitalization of $79.44 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average of $50.25 and a 200 day moving average of $46.68.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 61.16%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI increased their price objective 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. 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 research report on Monday. Compass Point lifted 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. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $54.07.

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.