Cornercap Investment Counsel Inc. Has $1.55 Million Position in U.S. Bancorp (NYSE:USB)

Cornercap Investment Counsel Inc. decreased its position in shares of U.S. Bancorp (NYSE:USB) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,412 shares of the financial services provider’s stock after selling 1,206 shares during the period. Cornercap Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $1,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Winch Advisory Services LLC grew its position in shares of U.S. Bancorp by 1,088.9% during the 4th 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 in the last quarter. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on USB. Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Wells Fargo & Company cut their price target on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Friday. Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Citigroup lowered their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Barclays lifted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

U.S. Bancorp Stock Down 2.4 %

Shares of NYSE USB opened at $42.21 on Friday. 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 stock has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. The company has a 50-day moving average price of $45.74 and a 200-day moving average price of $47.55.

U.S. Bancorp (NYSE:USB) last released 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 net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the firm earned $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is 52.77%.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % 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 valued at $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.