U.S. Bancorp (NYSE:USB) Stake Cut by Aveo Capital Partners LLC

Aveo Capital Partners LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 18.7% in the 4th quarter, Holdings Channel reports. The fund owned 8,314 shares of the financial services provider’s stock after selling 1,909 shares during the period. Aveo Capital Partners LLC’s holdings in U.S. Bancorp were worth $398,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC lifted its stake in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $1,018,000. M&T Bank Corp lifted its stake in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after acquiring an additional 45,560 shares in the last quarter. Finally, Keystone Financial Planning Inc. increased its position in U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after purchasing an additional 16,552 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of several recent research reports. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the firm’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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Up 0.7 %

USB opened at $47.73 on Friday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $74.46 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.77 and a beta of 1.04. The business has a 50 day moving average of $48.61 and a 200-day moving average of $47.52.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share 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 company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the business earned $0.99 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio is 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.