Lockheed Martin Investment Management Co. Sells 47,690 Shares of U.S. Bancorp $USB

Lockheed Martin Investment Management Co. cut its holdings in U.S. Bancorp (NYSE:USB) by 32.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the financial services provider’s stock after selling 47,690 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in U.S. Bancorp were worth $5,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of USB. Paulson Wealth Management Inc. increased its stake in shares of U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 173 shares in the last quarter. Gilbert & Cook Inc. increased its stake in shares of U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 184 shares in the last quarter. Genesis Private Wealth LLC increased its stake in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 187 shares in the last quarter. Lantz Financial LLC increased its stake in shares of U.S. Bancorp by 0.4% in the 4th quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 199 shares in the last quarter. Finally, Park National Corp OH increased its stake in shares of U.S. Bancorp by 0.7% in the 4th quarter. Park National Corp OH now owns 27,364 shares of the financial services provider’s stock worth $1,460,000 after purchasing an additional 200 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Down 0.5%

Shares of U.S. Bancorp stock opened at $53.15 on Friday. The firm has a market cap of $82.50 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 0.96 and a beta of 1.00. The business has a 50-day moving average price of $53.91 and a 200-day moving average price of $53.39. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $42.21 and a twelve month high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on USB shares. Truist Financial reduced their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Royal Bank Of Canada upped their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research note on Friday, April 17th. DA Davidson restated a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.