West Oak Capital LLC Has $40,000 Position in U.S. Bancorp (NYSE:USB)

West Oak Capital LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 72.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 845 shares of the financial services provider’s stock after selling 2,175 shares during the period. West Oak Capital LLC’s holdings in U.S. Bancorp were worth $40,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. State Street Corp lifted its holdings in U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC lifted its holdings in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC lifted its holdings in U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Piper Sandler lifted their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI boosted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.07.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.2 %

USB opened at $47.45 on Friday. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The firm has a 50 day simple moving average of $50.20 and a 200 day simple moving average of $46.46. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.