Berkshire Asset Management LLC PA Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Berkshire Asset Management LLC PA trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,276 shares of the financial services provider’s stock after selling 1,014 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in U.S. Bancorp were worth $504,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. purchased a new position in U.S. Bancorp during the 4th quarter worth $184,733,000. Los Angeles Capital Management LLC increased its position in U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after buying an additional 2,460,845 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $44.77 on Friday. The stock has a market capitalization of $69.84 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock’s 50-day moving average price is $47.54 and its 200-day moving average price is $47.87.

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

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on USB shares. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Compass Point boosted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial assumed coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $54.21.

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.