Northeast Investment Management Sells 1,923 Shares of U.S. Bancorp (NYSE:USB)

Northeast Investment Management trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 10.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,206 shares of the financial services provider’s stock after selling 1,923 shares during the period. Northeast Investment Management’s holdings in U.S. Bancorp were worth $775,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC boosted its position in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. Global Wealth Strategies & Associates grew its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Albion Financial Group UT grew its stake in U.S. Bancorp by 92.8% in the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 335 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $33,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Wells Fargo & Company boosted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.1 %

USB opened at $47.22 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two 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. The company has a market capitalization of $73.66 billion, a P/E ratio of 12.46, a P/E/G ratio of 1.77 and a beta of 1.04. The firm’s fifty day moving average price is $49.09 and its two-hundred day moving average price is $47.44.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.24%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

U.S. Bancorp Company 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.