City Holding Co. Sells 1,310 Shares of U.S. Bancorp (NYSE:USB)

City Holding Co. reduced its position in U.S. Bancorp (NYSE:USB) by 22.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,410 shares of the financial services provider’s stock after selling 1,310 shares during the period. City Holding Co.’s holdings in U.S. Bancorp were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ellsworth Advisors LLC raised its position in shares of U.S. Bancorp by 3.0% in the fourth quarter. Ellsworth Advisors LLC now owns 122,719 shares of the financial services provider’s stock valued at $5,870,000 after purchasing an additional 3,535 shares during the period. Grove Bank & Trust raised its holdings in U.S. Bancorp by 18.7% during the 4th quarter. Grove Bank & Trust now owns 32,681 shares of the financial services provider’s stock valued at $1,563,000 after acquiring an additional 5,149 shares during the period. Brady Martz Wealth Solutions LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth $1,344,000. Kelly Financial Services LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth $3,872,000. Finally, Aaron Wealth Advisors LLC grew its position in shares of U.S. Bancorp by 4.4% in the fourth quarter. Aaron Wealth Advisors LLC now owns 7,928 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 335 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.8 %

NYSE USB opened at $48.40 on Tuesday. The stock has a 50-day moving average of $50.18 and a 200-day moving average of $46.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market cap of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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 12.91% and a net margin of 12.92%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Analyst Upgrades and Downgrades

Several brokerages have commented on USB. Truist Financial initiated coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target 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.