U.S. Bancorp (NYSE:USB) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC decreased its stake in U.S. Bancorp (NYSE:USB) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,934 shares of the financial services provider’s stock after selling 4,535 shares during the period. Grandfield & Dodd LLC’s holdings in U.S. Bancorp were worth $3,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp in the 4th quarter valued at $28,000. Frazier Financial Advisors LLC grew its position in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in 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 during the period. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,451 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last quarter. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on USB shares. Barclays raised their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research report on Monday, January 13th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Up 1.4 %

Shares of NYSE:USB opened at $46.93 on Monday. The company has a market capitalization of $73.20 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.73 and a beta of 1.04. The stock’s fifty day simple moving average is $47.91 and its 200-day simple moving average is $47.87. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

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

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.