U.S. Bancorp $USB Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its position in U.S. Bancorp (NYSE:USB) by 34.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 155,816 shares of the financial services provider’s stock after selling 83,153 shares during the period. Logan Capital Management Inc.’s holdings in U.S. Bancorp were worth $7,051,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in U.S. Bancorp by 8.0% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 266,919 shares of the financial services provider’s stock valued at $12,078,000 after purchasing an additional 19,700 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of U.S. Bancorp by 16.7% during the 2nd quarter. AustralianSuper Pty Ltd now owns 264,370 shares of the financial services provider’s stock worth $11,963,000 after buying an additional 37,850 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of U.S. Bancorp by 36.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 483,692 shares of the financial services provider’s stock worth $21,887,000 after buying an additional 128,491 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in U.S. Bancorp by 81.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 274,263 shares of the financial services provider’s stock valued at $12,410,000 after acquiring an additional 123,426 shares during the last quarter. Finally, Transcend Capital Advisors LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $290,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 0.9%

Shares of USB opened at $47.82 on Tuesday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company’s fifty day moving average is $48.13 and its two-hundred day moving average is $45.29. The firm has a market cap of $74.42 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on USB. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Truist Financial lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, October 17th. Bank of America increased their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. DA Davidson boosted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.