Bank of New York Mellon Corp Has $851.90 Million Stock Position in U.S. Bancorp (NYSE:USB)

Bank of New York Mellon Corp lowered its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 17,810,931 shares of the financial services provider’s stock after selling 195,996 shares during the quarter. Bank of New York Mellon Corp’s holdings in U.S. Bancorp were worth $851,897,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in USB. State Street Corp grew its position 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 worth $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC boosted its position in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 3.9% during the third 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 buying an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its position in U.S. Bancorp by 1.8% during the third 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 buying an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after acquiring an additional 436,252 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.7 %

Shares of USB stock opened at $45.57 on Tuesday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a market cap of $71.08 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $48.08 and its two-hundred day moving average is $47.76.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for 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 revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.99 EPS. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

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 $0.50 dividend. 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 4.39%. U.S. Bancorp’s payout ratio is presently 52.77%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on USB shares. Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. 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 report on Monday, November 25th. Piper Sandler upgraded shares of 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. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a research note on Thursday, December 19th. Finally, Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

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.