First Eagle Investment Management LLC Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

First Eagle Investment Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,875,903 shares of the financial services provider’s stock after selling 34,663 shares during the period. First Eagle Investment Management LLC owned approximately 0.57% of U.S. Bancorp worth $424,534,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in USB. Covestor Ltd raised its position in U.S. Bancorp by 15.2% during the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 230 shares in the last quarter. Sigma Planning Corp raised its position in U.S. Bancorp by 10.5% during the third quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 792 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in U.S. Bancorp during the third quarter valued at about $263,000. Prime Capital Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 35.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider’s stock valued at $607,000 after buying an additional 3,491 shares during the last quarter. Finally, Empower Advisory Group LLC grew its stake in shares of U.S. Bancorp by 11.3% during the third quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider’s stock valued at $257,000 after buying an additional 572 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 in the last three months. 0.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on USB. Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Morgan Stanley reduced their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Down 2.0 %

NYSE:USB opened at $40.87 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. The firm’s 50-day moving average price is $47.03 and its 200-day moving average price is $47.79. The company has a market capitalization of $63.67 billion, a PE ratio of 10.78, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.89%. U.S. Bancorp’s payout ratio is 52.77%.

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.