FNY Investment Advisers LLC Acquires 800 Shares in U.S. Bancorp

FNY Investment Advisers LLC has recently expanded its investment portfolio by acquiring 800 shares in U.S. Bancorp (NYSE:USB) during the fourth quarter, as detailed in their latest filing with the SEC. This new stake in the financial services provider amounts to approximately $38,000.

In addition to FNY Investment Advisers, several other institutional investors have also adjusted their holdings of U.S. Bancorp shares. For instance, Frazier Financial Advisors LLC increased its investment by an impressive 222.7% in the third quarter, resulting in a total ownership of 639 shares, valued at $29,000 after acquiring an additional 441 shares. Global Wealth Strategies & Associates similarly raised their position in U.S. Bancorp by 70.8% in the same quarter, holding 603 shares worth $29,000 after purchasing 250 extra shares.

Moreover, Kimelman & Baird LLC entered a new investment in U.S. Bancorp during the second quarter with a value around $40,000. Legacy Investment Solutions LLC also acquired a fresh stake in the third quarter, valued close to $40,000. Lastly, First Financial Corp IN joined in by acquiring a position worth around $41,000 during the fourth quarter. Notably, institutional investors currently possess about 77.60% of U.S. Bancorp’s stock.

U.S. Bancorp's Recent Performance

On Thursday, NYSE:USB opened at $50.92. Over the past year, U.S. Bancorp has experienced fluctuations, reaching a low of $37.81 and a high of $53.98. The company maintains a debt-to-equity ratio of 1.04, a quick ratio of 0.81, and a current ratio also at 0.81. As for moving averages, the fifty-day stands at $50.25 while the 200-day moving average is $46.68. With a market cap of approximately $79.44 billion, the firm has a P/E ratio of 15.57 and a beta of 1.05.

Additionally, U.S. Bancorp announced its quarterly earnings results recently. For the quarter ending October 16th, they reported earnings of $1.03 per share, slightly exceeding analysts' expectations of $0.99. The total revenue for the quarter was $6.86 billion, compared to the consensus estimate of $6.90 billion. The firm recorded a return on equity of 12.91% and a net margin of 12.92%, even though revenue declined by 2.4% from the same quarter the previous year.

Dividend Announcement

U.S. Bancorp also declared a quarterly dividend, which was paid to shareholders on January 15th. Those on record as of December 31st received a dividend of $0.50. This equates to an annualized dividend of $2.00, offering a yield of 3.93%. The ex-dividend date was December 31st, and the company's payout ratio stands at 61.16%.

Price Target Adjustments by Analysts

Recently, several equity analysts have updated their price targets for U.S. Bancorp shares. Stephens has increased their target from $49.00 to $52.00, giving the stock an “equal weight” rating. Meanwhile, Robert W. Baird set a target price of $54.00, and Royal Bank of Canada followed with a $53.00 target. Compass Point has even raised their target to $60.00, assigning a “buy” rating, while Wells Fargo increased their target to $62.00, designating an “overweight” rating. Overall, analysts have rated U.S. Bancorp's stock with an average rating of “Moderate Buy,” and a mean price target of $54.07.

Insider Activity within U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares on October 18th at an average price of $49.03, resulting in a total sale of over $1.2 million. Following this transaction, Richard retains ownership of 129,790 shares in U.S. Bancorp, valued at about $6.36 million, marking a 16.15% reduction in their holdings. This transaction has been officially reported to the SEC.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, providing a wide range of financial services to individuals, businesses, and government entities across the United States. It operates through various segments, including Wealth Management, Corporate and Commercial Banking, and Payment Services.

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