Assetmark Inc. Sells 6,990 Shares of U.S. Bancorp (NYSE:USB)

Assetmark Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,846 shares of the financial services provider’s stock after selling 6,990 shares during the period. Assetmark Inc.’s holdings in U.S. Bancorp were worth $4,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of U.S. Bancorp during the 4th quarter valued at about $1,018,000. M&T Bank Corp lifted its holdings in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of U.S. Bancorp by 11.3% during the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after purchasing an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. lifted its holdings in shares of U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

Shares of U.S. Bancorp stock opened at $44.77 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The stock has a market cap of $69.84 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $47.54 and its 200-day moving average is $47.90.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock worth $10,385,665. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the topic of several recent analyst reports. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

About U.S. Bancorp

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.