Northwest & Ethical Investments L.P. Lowers Position in U.S. Bancorp $USB

Northwest & Ethical Investments L.P. reduced its stake in U.S. Bancorp (NYSE:USB) by 69.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,117 shares of the financial services provider’s stock after selling 35,973 shares during the period. Northwest & Ethical Investments L.P.’s holdings in U.S. Bancorp were worth $729,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Curbstone Financial Management Corp increased its position in shares of U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after acquiring an additional 222 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in shares of U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 237 shares during the last quarter. Mechanics Financial Corp boosted its position in shares of U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 240 shares during the period. Northern Financial Advisors Inc boosted its position in shares of U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 241 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE increased its holdings in U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 0.2%

NYSE:USB opened at $49.00 on Friday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a market cap of $76.17 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a fifty day moving average price of $47.51 and a 200 day moving average price of $46.45.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.2%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on USB shares. Wells Fargo & Company upped their price target on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Truist Financial lifted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, October 17th. TD Cowen increased their target price on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Citigroup raised their target price on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $54.45.

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.