U.S. Bancorp (NYSE:USB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in U.S. Bancorp (NYSE:USB) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,810,931 shares of the financial services provider’s stock after selling 195,996 shares during the period. Bank of New York Mellon Corp owned about 1.14% of U.S. Bancorp worth $851,897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in USB. Brooklyn Investment Group raised its stake in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares in the last quarter. Capital Performance Advisors LLP increased its holdings in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after buying an additional 210 shares during the last quarter. HCR Wealth Advisors raised its stake in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after buying an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC lifted its holdings in U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares during the last quarter. Finally, Essex Savings Bank lifted its holdings in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after buying an additional 216 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on USB. Compass Point upped their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Truist Financial began coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Down 0.7 %

Shares of U.S. Bancorp stock opened at $45.57 on Tuesday. 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 has a 1-year low of $37.81 and a 1-year high of $53.98. The business’s fifty day moving average price is $48.08 and its two-hundred day moving average price is $47.76. The company has a market capitalization of $71.08 billion, a P/E ratio of 12.02, a PEG ratio of 1.73 and a beta of 1.04.

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, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly 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 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. 0.23% of the stock is owned by company insiders.

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.