IFG Advisory LLC Cuts Stock Position in U.S. Bancorp $USB

IFG Advisory LLC cut its stake in shares of U.S. Bancorp (NYSE:USBFree Report) by 75.7% in the third quarter, HoldingsChannel.com reports. The fund owned 18,196 shares of the financial services provider’s stock after selling 56,784 shares during the period. IFG Advisory LLC’s holdings in U.S. Bancorp were worth $879,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in USB. Parcion Private Wealth LLC increased its stake in shares of U.S. Bancorp by 0.4% during the third quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock worth $2,581,000 after buying an additional 218 shares during the period. Bogart Wealth LLC lifted its stake in U.S. Bancorp by 4.4% in the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 234 shares during the last quarter. Hoxton Planning & Management LLC lifted its stake in U.S. Bancorp by 3.4% in the third quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 234 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its holdings in U.S. Bancorp by 0.5% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock worth $2,092,000 after acquiring an additional 235 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its holdings in U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 237 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp News Roundup

Here are the key news stories impacting U.S. Bancorp this week:

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of analyst reports. Evercore raised their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Thursday, February 5th. UBS Group reiterated a “neutral” rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. TD Cowen increased their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the stock from $61.00 to $66.00 in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.02.

Check Out Our Latest Analysis on U.S. Bancorp

U.S. Bancorp Stock Down 2.8%

Shares of U.S. Bancorp stock opened at $52.40 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The company has a market cap of $81.41 billion, a P/E ratio of 11.34, a PEG ratio of 0.94 and a beta of 1.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a fifty day moving average of $56.07 and a two-hundred day moving average of $51.46.

U.S. Bancorp (NYSE:USBGet Free Report) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is currently 45.02%.

U.S. Bancorp Company Profile

(Free Report)

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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