Financial Advocates Investment Management Sells 1,727 Shares of U.S. Bancorp (NYSE:USB)

Financial Advocates Investment Management trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,475 shares of the financial services provider’s stock after selling 1,727 shares during the quarter. Financial Advocates Investment Management’s holdings in U.S. Bancorp were worth $1,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of U.S. Bancorp by 32.7% in the third 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 during the last quarter. Franklin Resources Inc. lifted its holdings in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the period. Los Angeles Capital Management LLC grew its position in shares of U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after buying an additional 2,821,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of U.S. Bancorp by 109.7% in the third 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 buying an additional 1,847,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of U.S. Bancorp by 3.9% during the third 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 acquiring an additional 1,796,336 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on USB shares. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. 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. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.21.

Insider Transactions at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was 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 approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.7 %

USB opened at $47.69 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $74.40 billion, a PE ratio of 12.58, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50-day moving average is $49.33 and its 200 day moving average is $47.42.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

U.S. Bancorp 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.