Choreo LLC Sells 3,547 Shares of U.S. Bancorp (NYSE:USB)

Choreo LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 92,123 shares of the financial services provider’s stock after selling 3,547 shares during the quarter. Choreo LLC’s holdings in U.S. Bancorp were worth $4,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB increased its position in U.S. Bancorp by 16.9% during the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the last quarter. Czech National Bank boosted its stake in shares of U.S. Bancorp by 6.9% during the 3rd quarter. Czech National Bank now owns 317,882 shares of the financial services provider’s stock worth $14,537,000 after acquiring an additional 20,522 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of U.S. Bancorp by 11.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 7,898 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 834 shares during the last quarter. Aprio Wealth Management LLC bought a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $303,000. Finally, Callan Family Office LLC lifted its holdings in U.S. Bancorp by 15.4% in the 3rd quarter. Callan Family Office LLC now owns 6,195 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 829 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $47.33 on Thursday. The firm has a market cap of $73.83 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The firm’s 50-day simple moving average is $49.45 and its 200-day simple moving average is $47.42. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. 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 released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed 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 was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.23%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on USB. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Stephens lifted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. 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. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target 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.