U.S. Bancorp (NYSE:USB) Shares Sold by Concord Wealth Partners

Concord Wealth Partners reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 71.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,422 shares of the financial services provider’s stock after selling 3,519 shares during the quarter. Concord Wealth Partners’ holdings in U.S. Bancorp were worth $68,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in USB. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. Frazier Financial Advisors LLC lifted its position in shares of 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 worth $29,000 after buying an additional 441 shares during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of U.S. Bancorp by 70.8% in 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 in the last quarter. Albion Financial Group UT grew its position in shares of U.S. Bancorp by 92.8% in the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after buying an additional 335 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on USB shares. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point raised their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays lifted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Finally, 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 target price on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $47.84 on Friday. The company has a market cap of $74.63 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The business has a fifty day moving average of $49.71 and a two-hundred day moving average of $47.34. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

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%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. As a group, analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.18%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

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.