U.S. Bancorp $USB Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd lessened its position in shares of U.S. Bancorp (NYSE:USB) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,048,050 shares of the financial services provider’s stock after selling 65,392 shares during the quarter. Magellan Asset Management Ltd’s holdings in U.S. Bancorp were worth $55,924,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth $25,000. JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth $28,000. Westfuller Advisors LLC raised its stake in shares of U.S. Bancorp by 54.7% during the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after buying an additional 215 shares during the last quarter. Finally, Binnacle Investments Inc raised its stake in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 4.4%

Shares of USB stock opened at $55.45 on Friday. The firm has a 50-day moving average price of $54.64 and a 200 day moving average price of $54.15. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.96 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

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

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on USB. Truist Financial cut their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. DA Davidson reissued a “buy” rating and issued a $65.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. Barclays boosted their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Evercore boosted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Finally, Morgan Stanley set a $64.00 target price on shares of U.S. Bancorp in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.20.

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.