U.S. Bancorp $USB Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in U.S. Bancorp (NYSE:USB) by 66.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,287,733 shares of the financial services provider’s stock after selling 2,585,986 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of U.S. Bancorp worth $58,270,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Saudi Central Bank bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its position in U.S. Bancorp by 118.0% in the first quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares during the period. Activest Wealth Management increased its position in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 728 shares during the period. Finally, Groupe la Francaise acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $41,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $47.32 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $73.64 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The firm has a fifty day moving average price of $47.95 and a two-hundred day moving average price of $45.79. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 47.60%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a report on Friday, October 17th. Truist Financial upped their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. Finally, Evercore ISI raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.55.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.23% of the company’s stock.

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.