Victory Capital Management Inc. Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Victory Capital Management Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 715,256 shares of the financial services provider’s stock after selling 103,131 shares during the period. Victory Capital Management Inc.’s holdings in U.S. Bancorp were worth $34,211,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of USB. Principal Financial Group Inc. increased its stake in shares of U.S. Bancorp by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock worth $80,659,000 after purchasing an additional 75,104 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of U.S. Bancorp in the third quarter worth about $249,000. Verdence Capital Advisors LLC increased its stake in shares of U.S. Bancorp by 12.8% in the third quarter. Verdence Capital Advisors LLC now owns 46,916 shares of the financial services provider’s stock worth $2,145,000 after purchasing an additional 5,308 shares in the last quarter. Essex Savings Bank increased its stake in shares of U.S. Bancorp by 2.9% in the third quarter. Essex Savings Bank now owns 12,134 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 344 shares in the last quarter. Finally, Atria Investments Inc grew its stake in U.S. Bancorp by 14.4% during the third quarter. Atria Investments Inc now owns 284,832 shares of the financial services provider’s stock valued at $13,025,000 after acquiring an additional 35,946 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

Shares of USB opened at $44.77 on Monday. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.73 and a beta of 1.02. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a 50 day moving average price of $47.54 and a 200-day moving average price of $47.93.

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. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the business posted $0.99 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts forecast 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 Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Analyst Ratings Changes

Several equities analysts recently commented on USB shares. Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Wells Fargo & Company boosted their price objective 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. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

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.