U.S. Bancorp (NYSE:USB) Shares Sold by Beacon Financial Group

Beacon Financial Group lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,076 shares of the financial services provider’s stock after selling 306 shares during the quarter. Beacon Financial Group’s holdings in U.S. Bancorp were worth $291,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of USB. State Street Corp lifted its stake in shares of U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares in the last quarter. FMR LLC lifted its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI boosted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.21.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last quarter. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 0.1 %

NYSE USB opened at $47.52 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $74.13 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.77 and a beta of 1.04. The firm has a 50 day simple moving average of $48.88 and a 200-day simple moving average of $47.50. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $0.99 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.21%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

U.S. Bancorp Company Profile

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.