Operose Advisors LLC Trims Stake in U.S. Bancorp (NYSE:USB)

Operose Advisors LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 12.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,307 shares of the financial services provider’s stock after selling 330 shares during the period. Operose Advisors LLC’s holdings in U.S. Bancorp were worth $110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Invesco Ltd. raised its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Franklin Resources Inc. lifted its stake in U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. acquired a new position in U.S. Bancorp in the 4th quarter valued at about $184,733,000. Finally, FMR LLC increased its stake in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on USB. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Barclays boosted their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.52.

U.S. Bancorp Stock Up 1.1 %

USB stock opened at $38.62 on Wednesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a market cap of $60.17 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a fifty day moving average price of $43.10 and a 200 day moving average price of $46.93. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

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.