Cardinal Capital Management Inc. Trims Stake in U.S. Bancorp (NYSE:USB)

Cardinal Capital Management Inc. reduced its holdings in U.S. Bancorp (NYSE:USB) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 36,451 shares of the financial services provider’s stock after selling 1,973 shares during the quarter. Cardinal Capital Management Inc.’s holdings in U.S. Bancorp were worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group grew its stake in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after buying an additional 201 shares during the period. McAdam LLC increased its stake in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 209 shares during the last quarter. HCR Wealth Advisors raised its holdings in shares of U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the period. Priebe Wealth Holdings LLC grew its holdings in shares of U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank lifted its position in U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $48.67 on Thursday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market cap of $75.93 billion, a PE ratio of 12.84, a P/E/G ratio of 1.83 and a beta of 1.05. The stock has a 50 day simple moving average of $50.05 and a 200-day simple moving average of $47.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.11%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Upgrades and Downgrades

USB has been the topic of a number of analyst reports. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Stephens increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Oppenheimer raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.