Thoroughbred Financial Services LLC Sells 4,600 Shares of U.S. Bancorp (NYSE:USB)

Thoroughbred Financial Services LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,564 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in U.S. Bancorp were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in USB. Vanguard Group Inc. raised its stake in shares of 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 valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider’s stock worth $1,618,948,000 after buying an additional 850,763 shares in the last quarter. Amundi boosted its position in shares of U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock valued at $945,268,000 after acquiring an additional 1,341,407 shares during the period. Finally, Norges Bank purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $777,524,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last 90 days. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $36.78 on Friday. 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 has a one year low of $35.74 and a one year high of $53.98. The business’s 50 day simple moving average is $44.92 and its two-hundred day simple moving average is $47.43. The stock has a market capitalization of $57.30 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.44%. U.S. Bancorp’s payout ratio is presently 52.77%.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup reduced their target price on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group cut their price objective on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. One research 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. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $52.89.

U.S. Bancorp Company 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.