Dearborn Partners LLC Sells 1,350 Shares of U.S. Bancorp (NYSE:USB)

Dearborn Partners LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,368 shares of the financial services provider’s stock after selling 1,350 shares during the quarter. Dearborn Partners LLC’s holdings in U.S. Bancorp were worth $1,261,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC boosted its position in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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 buying an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter worth about $184,733,000. Charles Schwab Investment Management Inc. grew its stake in U.S. Bancorp by 5.2% in 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 during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in U.S. Bancorp in the 4th quarter valued at about $111,274,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $42.35 on Tuesday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The stock has a market capitalization of $66.06 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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 company’s 50 day simple moving average is $47.42 and its 200 day simple moving average is $47.91.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the company posted $0.99 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Truist Financial began coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target for the company. Barclays upped their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.21.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % 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, EVP James L. Chosy sold 21,451 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. 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 over the last 90 days. 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.