U.S. Bancorp $USB Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 275,414 shares of the financial services provider’s stock after selling 23,127 shares during the quarter. Thrivent Financial for Lutherans’ holdings in U.S. Bancorp were worth $14,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Guerra Advisors Inc purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth about $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new position in U.S. Bancorp during the third quarter worth approximately $28,000. Finally, Binnacle Investments Inc raised its stake in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $53.45 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company’s fifty day moving average price is $53.90 and its two-hundred day moving average price is $53.47. The firm has a market capitalization of $82.97 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.96 and a beta of 1.00. U.S. Bancorp has a 12 month low of $42.21 and a 12 month high of $61.19.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. On average, research analysts anticipate that U.S. Bancorp will post 5.09 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, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.9%. U.S. Bancorp’s payout ratio is 43.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on USB shares. Oppenheimer lifted their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. UBS Group restated a “neutral” rating and set a $60.00 price target on shares of U.S. Bancorp in a research note on Wednesday, February 4th. JPMorgan Chase & Co. cut their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a report on Thursday, April 30th. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Finally, Truist Financial dropped their target price on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.