U.S. Bancorp (NYSE:USB) Stake Trimmed by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,542 shares of the financial services provider’s stock after selling 531 shares during the quarter. Marks Group Wealth Management Inc’s holdings in U.S. Bancorp were worth $2,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Winch Advisory Services LLC lifted its position in shares of U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at $30,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 1.6 %

Shares of USB stock opened at $47.62 on Wednesday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock’s 50 day simple moving average is $48.97 and its 200 day simple moving average is $47.48. The company has a market capitalization of $74.28 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $0.99 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on USB. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Finally, Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Company 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.