Truist Financial Corp Has $66.44 Million Stake in U.S. Bancorp (NYSE:USB)

Truist Financial Corp trimmed its stake in U.S. Bancorp (NYSE:USB) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,535,090 shares of the financial services provider’s stock after selling 165,050 shares during the period. Truist Financial Corp owned about 0.10% of U.S. Bancorp worth $66,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of USB. CGC Financial Services LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp during the 4th quarter worth about $27,000. Legacy Financial Group LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $30,000. Finally, Naples Money Management LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. Barclays reduced their target price on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company reduced their target price on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Oppenheimer reduced their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.14.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $41.12 on Friday. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85. The company’s 50 day moving average price is $42.34 and its two-hundred day moving average price is $40.16. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $64.07 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.13 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the firm earned $1.16 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. U.S. Bancorp’s payout ratio is currently 64.90%.

U.S. Bancorp Profile

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.