U.S. Bancorp $USB Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in U.S. Bancorp (NYSE:USB) by 44.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,310 shares of the financial services provider’s stock after selling 18,563 shares during the period. Shell Asset Management Co.’s holdings in U.S. Bancorp were worth $1,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Empowered Funds LLC raised its stake in shares of U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC lifted its position in shares of U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of U.S. Bancorp in the second quarter valued at $425,000. Finally, Nordea Investment Management AB grew its holdings in U.S. Bancorp by 192.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $57.66 on Monday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $61.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $89.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.03 and a beta of 1.06. The stock has a 50 day moving average of $55.43 and a 200-day moving average of $50.37.

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 (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 45.02%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on USB shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Evercore boosted their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. DA Davidson increased their price target on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. HSBC restated a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. 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 note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $59.79.

About U.S. Bancorp

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.