U.S. Bancorp (NYSE:USB) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in U.S. Bancorp (NYSE:USB) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,655 shares of the financial services provider’s stock after selling 512 shares during the quarter. Shell Asset Management Co.’s holdings in U.S. Bancorp were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in USB. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $26,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $30,000. Picton Mahoney Asset Management acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $30,000. Finally, Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $44.92 on Friday. The stock’s 50-day moving average price is $40.79 and its two-hundred day moving average price is $46.00. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market cap of $69.98 billion, a PE ratio of 11.85, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the previous year, the company earned $0.78 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.45%. U.S. Bancorp’s payout ratio is presently 49.50%.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays reduced their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. DA Davidson reduced their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $43.50 price objective (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Keefe, Bruyette & Woods reduced their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Finally, Truist Financial reduced their price objective on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.89.

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.