U.S. Bancorp $USB Shares Sold by Glenview Trust Co

Glenview Trust Co lowered its holdings in U.S. Bancorp (NYSE:USB) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,687 shares of the financial services provider’s stock after selling 10,641 shares during the quarter. Glenview Trust Co’s holdings in U.S. Bancorp were worth $4,528,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp during the second quarter valued at approximately $25,000. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $27,000. Finally, Pineridge Advisors LLC boosted its holdings in U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 522 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson lifted their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, October 23rd. Barclays raised their price objective on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. TD Cowen boosted their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Truist Financial increased their target price on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.79.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $58.16 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm has a market capitalization of $90.41 billion, a PE ratio of 12.59, a P/E/G ratio of 1.03 and a beta of 1.06. The business’s 50 day moving average price is $55.68 and its 200-day moving average price is $50.56.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

U.S. Bancorp Company 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.