MidWestOne Financial Group Inc. Has $969,000 Holdings in U.S. Bancorp (NYSE:USB)

MidWestOne Financial Group Inc. decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,269 shares of the financial services provider’s stock after selling 300 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in U.S. Bancorp were worth $969,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the 4th quarter worth about $26,000. FPC Investment Advisory Inc. bought a new stake in U.S. Bancorp during the fourth quarter worth about $28,000. Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Finally, Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $31,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 3.5%

USB stock opened at $42.88 on Thursday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a market capitalization of $66.80 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The company’s 50-day simple moving average is $40.94 and its 200 day simple moving average is $45.93. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the business posted $0.78 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Insiders Place Their Bets

In related news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on USB. Piper Sandler cut their price objective on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Raymond James reaffirmed an “outperform” rating and issued a $51.00 target price (down from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Morgan Stanley cut their target price on shares of U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $50.89.

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.