U.S. Bancorp (NYSE:USB) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management reduced its stake in U.S. Bancorp (NYSE:USB) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,190 shares of the financial services provider’s stock after selling 2,809 shares during the period. U.S. Bancorp accounts for about 0.6% of Keudell Morrison Wealth Management’s investment portfolio, making the stock its 28th biggest holding. Keudell Morrison Wealth Management’s holdings in U.S. Bancorp were worth $2,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. FMR LLC boosted its stake in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the period. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock valued at $1,618,948,000 after acquiring an additional 850,763 shares during the period. Finally, Amundi boosted its stake in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after acquiring an additional 1,341,407 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $44.10 on Tuesday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The stock has a fifty day moving average of $42.37 and a 200-day moving average of $44.62. The company has a market capitalization of $68.71 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 1.63 and a beta of 1.00. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on USB. Piper Sandler decreased their target price on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Barclays reduced their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Cowen initiated coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a “buy” rating for the company. Wells Fargo & Company reduced their price objective on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley reduced their price objective on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen 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 an average price target of $50.72.

About U.S. Bancorp

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.