Lansforsakringar Fondforvaltning AB publ Lowers Position in U.S. Bancorp $USB

Lansforsakringar Fondforvaltning AB publ decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 505,210 shares of the financial services provider’s stock after selling 141,584 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in U.S. Bancorp were worth $26,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth $1,887,497,000. Auto Owners Insurance Co boosted its stake in shares of U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the period. Capital Research Global Investors bought a new position in shares of U.S. Bancorp in the fourth quarter worth about $296,377,000. SG Americas Securities LLC grew its holdings in shares of U.S. Bancorp by 3,451.9% in the fourth quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after purchasing an additional 4,210,676 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in U.S. Bancorp by 20.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock worth $1,329,683,000 after buying an additional 4,153,080 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Down 1.3%

Shares of NYSE:USB opened at $60.46 on Wednesday. The business’s 50-day moving average is $56.28 and its 200 day moving average is $55.34. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $61.88. The firm has a market capitalization of $93.78 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.06 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. On average, research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on USB shares. Wall Street Zen downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday. Royal Bank Of Canada increased their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group restated a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Thursday, April 16th. Truist Financial upped their target price on U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.57.

About U.S. Bancorp

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.