U.S. Bancorp $USB Stock Position Cut by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 63.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,630 shares of the financial services provider’s stock after selling 18,403 shares during the quarter. Pathway Financial Advisers LLC’s holdings in U.S. Bancorp were worth $614,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mufg Bank LTD. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $2,680,199,000. Bank of America Corp DE increased its position in U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after purchasing an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp bought a new position in U.S. Bancorp in the 2nd quarter valued at approximately $536,457,000. Finally, First Trust Advisors LP boosted its position in U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after buying an additional 2,314,081 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on USB. Raymond James Financial decreased their target price on shares of U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 6th. Robert W. Baird increased their price target on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. DA Davidson reissued a “buy” rating and set a $73.00 price objective on shares of U.S. Bancorp in a report on Friday, October 16th. Barclays raised their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Truist Financial reduced their price objective on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.36.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $61.05 on Thursday. The stock’s 50 day moving average is $59.77 and its 200 day moving average is $58.13. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The firm has a market cap of $95.11 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the prior year, the firm posted $1.22 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is currently 42.11%.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.