Cambiar Investors LLC Sells 48,854 Shares of U.S. Bancorp (NYSE:USB)

Cambiar Investors LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 5.2% during the first quarter, HoldingsChannel.com reports. The firm owned 893,582 shares of the financial services provider’s stock after selling 48,854 shares during the quarter. U.S. Bancorp makes up 1.6% of Cambiar Investors LLC’s portfolio, making the stock its 28th largest position. Cambiar Investors LLC’s holdings in U.S. Bancorp were worth $37,727,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Westend Capital Management LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $27,000. REAP Financial Group LLC increased its stake in U.S. Bancorp by 86.1% in the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 297 shares during the last quarter. YANKCOM Partnership increased its stake in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares during the last quarter. Alpine Bank Wealth Management bought a new position in U.S. Bancorp in the 1st quarter worth about $30,000. Finally, Rakuten Securities Inc. increased its stake in U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 703 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cowen assumed coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. Truist Financial upped their target price on U.S. Bancorp from $48.00 to $50.00 and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Citigroup upped their price objective on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Morgan Stanley upped their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

U.S. Bancorp Trading Down 1.9%

NYSE USB opened at $45.96 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $45.46 and a two-hundred day simple moving average of $43.83. The stock has a market cap of $71.52 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter last year, the business posted $0.98 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, 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 was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is currently 47.85%.

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.