U.S. Bancorp (NYSE:USB) Stock Holdings Trimmed by CORDA Investment Management LLC.

CORDA Investment Management LLC. trimmed its stake in U.S. Bancorp (NYSE:USB) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 931,825 shares of the financial services provider’s stock after selling 7,967 shares during the quarter. U.S. Bancorp accounts for 3.1% of CORDA Investment Management LLC.’s portfolio, making the stock its 10th biggest holding. CORDA Investment Management LLC.’s holdings in U.S. Bancorp were worth $39,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in USB. Westend Capital Management LLC bought a new stake in U.S. Bancorp in the first quarter worth $27,000. YANKCOM Partnership boosted its holdings in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in U.S. Bancorp in the fourth quarter worth $30,000. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp in the first quarter worth $30,000. Finally, Millstone Evans Group LLC bought a new stake in U.S. Bancorp in the fourth quarter worth $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.3%

USB stock opened at $47.65 on Wednesday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The business’s 50-day moving average is $44.00 and its two-hundred day moving average is $44.38. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $74.24 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 1.80 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share 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 for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Monday, June 30th. U.S. Bancorp’s dividend payout ratio is 49.50%.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. Truist Financial dropped their target price on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Thursday, April 17th. Citigroup boosted their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Evercore ISI boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock an “in-line” rating in a report on Wednesday, June 4th. Wolfe Research raised U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group upped their price target on U.S. Bancorp from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.61.

Insiders Place Their Bets

In related news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.