U.S. Bancorp (NYSE:USB) Stake Lessened by Zacks Investment Management

Zacks Investment Management cut its position in shares of U.S. Bancorp (NYSE:USB) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,421,862 shares of the financial services provider’s stock after selling 149,665 shares during the quarter. Zacks Investment Management owned 0.09% of U.S. Bancorp worth $68,008,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Capital Performance Advisors LLP raised its position in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 210 shares in the last quarter. HCR Wealth Advisors grew its stake 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 last quarter. Covestor Ltd raised its holdings in shares of U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 214 shares in the last quarter. Priebe Wealth Holdings LLC lifted its stake in U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares during the last quarter. Finally, Essex Savings Bank boosted its holdings 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 worth $591,000 after buying an additional 216 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $38.62 on Wednesday. The firm has a market capitalization of $60.17 billion, a PE ratio of 10.19, a PEG ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $43.10 and its 200 day simple moving average is $46.93.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) 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 firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.18%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a research note on Thursday, April 3rd. Morgan Stanley lowered their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Truist Financial reduced their target price on U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday, April 4th. Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Oppenheimer upped their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.52.

U.S. Bancorp 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.