Lincoln National Corp Purchases 1,163 Shares of U.S. Bancorp (NYSE:USB)

Lincoln National Corp raised its stake in U.S. Bancorp (NYSE:USBGet Rating) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,579 shares of the financial services provider’s stock after purchasing an additional 1,163 shares during the quarter. Lincoln National Corp’s holdings in U.S. Bancorp were worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Probity Advisors Inc. raised its stake in shares of U.S. Bancorp by 0.8% in the second quarter. Probity Advisors Inc. now owns 25,764 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 214 shares during the last quarter. Loveless Wealth Management LLC raised its stake in shares of U.S. Bancorp by 2.0% in the second quarter. Loveless Wealth Management LLC now owns 10,770 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 215 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of U.S. Bancorp by 0.6% during the second quarter. Moloney Securities Asset Management LLC now owns 38,498 shares of the financial services provider’s stock valued at $1,772,000 after acquiring an additional 215 shares during the last quarter. SouthState Corp increased its position in shares of U.S. Bancorp by 0.3% during the second quarter. SouthState Corp now owns 80,675 shares of the financial services provider’s stock valued at $3,713,000 after acquiring an additional 216 shares during the last quarter. Finally, Smith Salley & Associates increased its position in shares of U.S. Bancorp by 0.3% during the third quarter. Smith Salley & Associates now owns 69,471 shares of the financial services provider’s stock valued at $2,801,000 after acquiring an additional 236 shares during the last quarter. 71.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $47.00 price target on shares of U.S. Bancorp in a research report on Wednesday, September 28th. JPMorgan Chase & Co. increased their price target on U.S. Bancorp from $46.00 to $47.00 in a research report on Wednesday, November 2nd. Morgan Stanley decreased their price target on U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 6th. Deutsche Bank Aktiengesellschaft decreased their price target on U.S. Bancorp from $60.00 to $52.00 in a research report on Friday, January 6th. Finally, Oppenheimer decreased their target price on U.S. Bancorp from $71.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, December 28th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.67.

U.S. Bancorp Price Performance

NYSE:USB opened at $46.67 on Wednesday. The firm has a market capitalization of $69.34 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of 1.48 and a beta of 0.96. U.S. Bancorp has a 52-week low of $38.39 and a 52-week high of $60.50. The stock has a fifty day moving average of $44.50 and a 200 day moving average of $44.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.76 and a current ratio of 0.77.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Friday, December 30th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, December 29th. U.S. Bancorp’s dividend payout ratio is 45.61%.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 84,948 shares of U.S. Bancorp stock in a transaction on Monday, December 12th. The stock was sold at an average price of $43.51, for a total transaction of $3,696,087.48. Following the completion of the sale, the chief executive officer now owns 956,742 shares of the company’s stock, valued at $41,627,844.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other U.S. Bancorp news, CEO Andrew Cecere sold 84,948 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $43.51, for a total transaction of $3,696,087.48. Following the sale, the chief executive officer now owns 956,742 shares in the company, valued at $41,627,844.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Terrance R. Dolan sold 12,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $43.14, for a total value of $517,680.00. Following the sale, the chief financial officer now owns 153,051 shares in the company, valued at approximately $6,602,620.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,249 shares of company stock valued at $6,064,745. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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