Frank Rimerman Advisors LLC Cuts Holdings in U.S. Bancorp (NYSE:USB)

Frank Rimerman Advisors LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,074 shares of the financial services provider’s stock after selling 6,793 shares during the period. Frank Rimerman Advisors LLC’s holdings in U.S. Bancorp were worth $2,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Winch Advisory Services LLC increased its holdings in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $26,000. FPC Investment Advisory Inc. purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at $28,000. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the last quarter. Finally, Global Wealth Strategies & Associates raised its holdings in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on USB. Oppenheimer upped their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Truist Financial started coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Performance

USB stock opened at $42.06 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. The business has a 50-day moving average price of $46.90 and a 200 day moving average price of $47.77. The company has a market capitalization of $65.53 billion, a P/E ratio of 11.10, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.75%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’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 value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at $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 available at this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, 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 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 quarter. Insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.