Resonant Capital Advisors LLC Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Resonant Capital Advisors LLC cut its stake in U.S. Bancorp (NYSE:USB) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,657 shares of the financial services provider’s stock after selling 9,831 shares during the period. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Brooklyn Investment Group grew its position in shares of U.S. Bancorp by 4.4% in the third 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. McAdam LLC grew its position in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares in the last quarter. HCR Wealth Advisors grew its position in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC grew its position in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares in the last quarter. Finally, Essex Savings Bank lifted its holdings in U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 216 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $47.84 on Monday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a market capitalization of $74.63 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The firm has a 50-day simple moving average of $49.71 and a 200-day simple moving average of $47.39. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS 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 firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.18%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Analysts Set New Price Targets

USB has been the topic of a number of recent analyst reports. Morgan Stanley decreased their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

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.