Laffer Tengler Investments Inc. Sells 242,447 Shares of U.S. Bancorp $USB

Laffer Tengler Investments Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 95.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,565 shares of the financial services provider’s stock after selling 242,447 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in U.S. Bancorp were worth $559,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC lifted its stake in shares of U.S. Bancorp by 11.5% in the third quarter. Insigneo Advisory Services LLC now owns 6,709 shares of the financial services provider’s stock worth $324,000 after buying an additional 690 shares during the last quarter. Level Four Advisory Services LLC raised its holdings in U.S. Bancorp by 11.0% in the 3rd quarter. Level Four Advisory Services LLC now owns 9,187 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 914 shares during the period. CI Investments Inc. lifted its position in U.S. Bancorp by 15.5% during the 3rd quarter. CI Investments Inc. now owns 12,041 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 1,614 shares during the last quarter. Strive Asset Management LLC bought a new stake in U.S. Bancorp during the third quarter valued at about $483,000. Finally, Becker Capital Management Inc. boosted its holdings in U.S. Bancorp by 0.8% during the third quarter. Becker Capital Management Inc. now owns 550,124 shares of the financial services provider’s stock valued at $26,871,000 after acquiring an additional 4,334 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $53.98 on Wednesday. The firm has a market capitalization of $83.87 billion, a PE ratio of 11.68, a PEG ratio of 0.98 and a beta of 1.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19. The business’s 50 day moving average is $56.16 and its 200-day moving average is $51.34.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same period last year, the business earned $1.07 earnings per share. U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.02%.

Analysts Set New Price Targets

USB has been the topic of a number of recent analyst reports. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Royal Bank Of Canada raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price target for the stock from $61.00 to $66.00 in a report on Thursday, February 26th. Oppenheimer increased their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, HSBC restated a “buy” rating and issued a $62.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.02.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

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.