Lee Danner & Bass Inc. Sells 250 Shares of U.S. Bancorp (NYSE:USB)

Lee Danner & Bass Inc. cut its stake in U.S. Bancorp (NYSE:USB) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,410 shares of the financial services provider’s stock after selling 250 shares during the period. Lee Danner & Bass Inc.’s holdings in U.S. Bancorp were worth $2,363,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of USB. Empowered Funds LLC boosted its holdings in U.S. Bancorp by 9.4% in the 3rd quarter. Empowered Funds LLC now owns 27,618 shares of the financial services provider’s stock valued at $1,263,000 after purchasing an additional 2,375 shares during the period. Pathstone Holdings LLC boosted its holdings in U.S. Bancorp by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 296,594 shares of the financial services provider’s stock valued at $13,573,000 after purchasing an additional 2,300 shares during the period. Commerce Bank boosted its holdings in U.S. Bancorp by 10.5% in the 3rd quarter. Commerce Bank now owns 442,625 shares of the financial services provider’s stock valued at $20,241,000 after purchasing an additional 42,197 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of U.S. Bancorp by 30.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 26,776 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 6,291 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its stake in shares of U.S. Bancorp by 1.2% in the 3rd quarter. Cornerstone Advisors LLC now owns 83,100 shares of the financial services provider’s stock valued at $3,800,000 after buying an additional 1,000 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on USB. DA Davidson upgraded 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 note on Thursday, January 2nd. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research note on Thursday, December 19th. 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 note on Tuesday, December 10th. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Finally, Piper Sandler upgraded 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 twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.93.

U.S. Bancorp Trading Down 0.2 %

USB opened at $42.58 on Friday. 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 stock has a market capitalization of $66.34 billion, a PE ratio of 11.24, 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. The firm has a 50-day moving average price of $46.40 and a two-hundred day moving average price of $47.66.

U.S. Bancorp (NYSE:USB) last posted 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 analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Activity

In other news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value 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 approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’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 completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Company 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.