Texas Capital Bancshares Inc TX Trims Position in U.S. Bancorp (NYSE:USB)

Texas Capital Bancshares Inc TX lowered its position in shares of U.S. Bancorp (NYSE:USB) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,839 shares of the financial services provider’s stock after selling 330 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in U.S. Bancorp were worth $231,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Summit Financial Wealth Advisors LLC grew its holdings in U.S. Bancorp by 5.4% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 103,800 shares of the financial services provider’s stock valued at $4,865,000 after buying an additional 5,279 shares during the period. Covestor Ltd lifted its stake in shares of U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 214 shares in the last quarter. Argent Trust Co lifted its position in U.S. Bancorp by 2.5% in the 4th quarter. Argent Trust Co now owns 53,959 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 1,321 shares during the last quarter. Accredited Investors Inc. raised its holdings in shares of U.S. Bancorp by 0.5% during the fourth quarter. Accredited Investors Inc. now owns 66,198 shares of the financial services provider’s stock valued at $3,166,000 after buying an additional 308 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in U.S. Bancorp by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 685,902 shares of the financial services provider’s stock valued at $32,807,000 after acquiring an additional 4,310 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of several research analyst reports. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.52.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $37.22 on Friday. The firm has a market capitalization of $57.99 billion, a P/E ratio of 9.82, a P/E/G ratio of 1.73 and a beta of 0.91. The stock has a fifty day moving average price of $43.65 and a two-hundred day moving average price of $47.07. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company posted $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.37%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Activity

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by company insiders.

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.