Estabrook Capital Management Sells 290 Shares of U.S. Bancorp (NYSE:USB)

Estabrook Capital Management decreased its holdings in U.S. Bancorp (NYSE:USB) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,525 shares of the financial services provider’s stock after selling 290 shares during the period. Estabrook Capital Management’s holdings in U.S. Bancorp were worth $3,134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. International Assets Investment Management LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $1,018,000. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp boosted its holdings in U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the period. D.A. Davidson & CO. increased its holdings in shares of U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Keystone Financial Planning Inc. boosted its stake in U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after buying an additional 16,552 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on USB shares. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Thursday, December 19th. Truist Financial lowered their price objective on shares of U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Friday, April 4th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.52.

U.S. Bancorp Trading Down 1.3 %

NYSE USB opened at $36.31 on Wednesday. The stock has a market capitalization of $56.57 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The firm has a 50 day moving average of $44.19 and a two-hundred day moving average of $47.23. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping 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 company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.51%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction 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 directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last quarter. Company 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.