Everett Harris & Co. CA Cuts Position in U.S. Bancorp (NYSE:USB)

Everett Harris & Co. CA cut its stake in shares of U.S. Bancorp (NYSE:USB) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,067 shares of the financial services provider’s stock after selling 5,024 shares during the quarter. Everett Harris & Co. CA’s holdings in U.S. Bancorp were worth $1,258,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of U.S. Bancorp by 6.0% in the second quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after purchasing an additional 6,307,085 shares in the last quarter. Mufg Bank LTD. grew its position in shares of U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares during the last quarter. State Street Corp raised its position in shares of U.S. Bancorp by 4.0% during the 2nd quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock worth $2,026,405,000 after purchasing an additional 2,300,777 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after buying an additional 60,227,825 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,265 shares of company stock valued at $2,535,903. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Up 1.6 %

USB traded up $0.69 on Thursday, reaching $44.69. 7,594,784 shares of the company’s stock were exchanged, compared to its average volume of 9,094,184. The company’s 50 day moving average is $41.98 and its 200-day moving average is $38.84. The company has a market cap of $69.63 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 2.24 and a beta of 1.04. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The firm had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on USB shares. Morgan Stanley upped their price objective on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Evercore ISI raised their target price on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research report on Thursday. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $46.41.

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.