Kerrisdale Advisers LLC Has $1.37 Million Stock Position in U.S. Bancorp (NYSE:USB)

Kerrisdale Advisers LLC lowered its position in U.S. Bancorp (NYSE:USBFree Report) by 32.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,471 shares of the financial services provider’s stock after selling 19,945 shares during the quarter. Kerrisdale Advisers LLC’s holdings in U.S. Bancorp were worth $1,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its stake in shares of U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after buying an additional 60,227,825 shares during the last quarter. Mufg Bank LTD. grew its position in shares of U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC increased its stake in shares of U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after purchasing an additional 17,066,479 shares during the period. Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter valued at $644,436,000. Finally, BlackRock Inc. grew its holdings in U.S. Bancorp by 6.0% in the 2nd quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after buying an additional 6,307,085 shares in the last quarter. 75.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent research reports. Oppenheimer boosted their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Stephens lowered U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Wells Fargo & Company raised their price target on U.S. Bancorp from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, Royal Bank of Canada upped their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $45.35.

Get Our Latest Stock Analysis on USB

U.S. Bancorp Trading Up 3.2 %

Shares of USB stock traded up $1.31 during mid-day trading on Monday, hitting $42.73. The company’s stock had a trading volume of 8,293,784 shares, compared to its average volume of 9,178,060. The company has a market cap of $66.58 billion, a PE ratio of 12.63, a P/E/G ratio of 2.11 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day simple moving average is $41.94 and its 200-day simple moving average is $37.99. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $47.56.

U.S. Bancorp (NYSE:USBGet Free Report) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a dividend of $0.49 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend was Thursday, December 28th. U.S. Bancorp’s payout ratio is currently 59.76%.

Insider Activity

In other U.S. Bancorp news, insider Terrance R. Dolan sold 22,756 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the transaction, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,496,389.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Terrance R. Dolan sold 22,756 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,496,389.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Insiders have sold 88,021 shares of company stock worth $3,760,229 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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