Foundations Investment Advisors LLC Cuts Stake in U.S. Bancorp (NYSE:USB)

Foundations Investment Advisors LLC cut its position in U.S. Bancorp (NYSE:USBFree Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,383 shares of the financial services provider’s stock after selling 1,037 shares during the period. Foundations Investment Advisors LLC’s holdings in U.S. Bancorp were worth $384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Scotia Capital Inc. raised its position in U.S. Bancorp by 2.9% in the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the last quarter. Spinnaker Trust bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $220,000. Tealwood Asset Management Inc. lifted its position in U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after purchasing an additional 15,665 shares during the period. Louisiana State Employees Retirement System purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $4,073,000. Finally, abrdn plc grew its position in U.S. Bancorp by 71.9% in the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after purchasing an additional 272,976 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. UBS Group cut their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research note on Thursday. Barclays cut their target price on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Fifteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.02.

Check Out Our Latest Stock Analysis on USB

U.S. Bancorp Price Performance

USB stock opened at $41.43 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The company’s fifty day moving average price is $42.22 and its 200-day moving average price is $41.15. U.S. Bancorp has a one year low of $29.33 and a one year high of $45.85. The company has a market capitalization of $64.65 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

U.S. Bancorp (NYSE:USBGet Free Report) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.73%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

U.S. Bancorp Company Profile

(Free Report)

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.

See Also

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

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