Sky Investment Group LLC Sells 775 Shares of U.S. Bancorp (NYSE:USB)

Sky Investment Group LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 2.3% in the 4th quarter, HoldingsChannel reports. The fund owned 33,396 shares of the financial services provider’s stock after selling 775 shares during the period. Sky Investment Group LLC’s holdings in U.S. Bancorp were worth $1,597,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of USB. FMR LLC grew its position 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 valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Franklin Resources Inc. grew its holdings in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after acquiring an additional 2,821,642 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after acquiring an additional 1,847,000 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

USB opened at $48.40 on Tuesday. The firm has a 50-day moving average price of $50.18 and a 200-day moving average price of $46.88. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $75.50 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 EPS. Equities analysts expect that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Analyst Ratings Changes

A number of brokerages have commented on USB. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Thursday, December 19th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

About U.S. Bancorp

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.