Valley Wealth Managers Inc. Sells 11,637 Shares of U.S. Bancorp (NYSE:USB)

Valley Wealth Managers Inc. decreased its stake in U.S. Bancorp (NYSE:USB) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,083 shares of the financial services provider’s stock after selling 11,637 shares during the period. Valley Wealth Managers Inc.’s holdings in U.S. Bancorp were worth $4,309,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of USB. State Street Corp lifted its stake in U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC lifted its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Truist Financial began coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Up 0.7 %

Shares of USB opened at $47.73 on Tuesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a market cap of $74.46 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a 50 day simple moving average of $48.61 and a two-hundred day simple moving average of $47.55.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating 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 business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other news, 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 transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company’s 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 trade represents a 7.66 % 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 three months. Corporate 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.