Abound Wealth Management Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Abound Wealth Management trimmed its position in shares of U.S. Bancorp (NYSE:USBFree Report) by 34.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 642 shares of the financial services provider’s stock after selling 337 shares during the quarter. Abound Wealth Management’s holdings in U.S. Bancorp were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in U.S. Bancorp by 1.2% during 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 purchasing an additional 819,805 shares during the last quarter. FMR LLC lifted its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after acquiring an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after acquiring an additional 325,374 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on USB shares. Wells Fargo & Company raised their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Oppenheimer decreased their price target on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.07.

View Our Latest Report on USB

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

Shares of USB stock traded up $0.85 on Monday, reaching $48.23. The company’s stock had a trading volume of 5,136,888 shares, compared to its average volume of 6,474,925. The company has a market capitalization of $75.24 billion, a P/E ratio of 14.75, a PEG ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The stock’s 50 day simple moving average is $50.20 and its 200-day simple moving average is $46.55. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USBGet Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. As a group, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

About U.S. Bancorp

(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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