Truist Financial Corp Has $60.70 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Truist Financial Corp cut its stake in U.S. Bancorp (NYSE:USB) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,269,023 shares of the financial services provider’s stock after selling 11,654 shares during the quarter. Truist Financial Corp owned 0.08% of U.S. Bancorp worth $60,697,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Winch Advisory Services LLC raised its position in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares during the period. Global Wealth Strategies & Associates grew its stake in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $30,000. Frazier Financial Advisors LLC increased its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Oppenheimer increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. 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 report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, October 24th. Finally, DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In other news, 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 transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This 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 accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last quarter. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.73 on Tuesday. The firm’s fifty day simple moving average is $48.61 and its two-hundred day simple moving average is $47.55. U.S. Bancorp has a 12 month low of $37.81 and a 12 month 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 P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results 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 business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend 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 currently 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.