U.S. Bancorp (NYSE:USB) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lessened its position in U.S. Bancorp (NYSE:USB) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,109 shares of the financial services provider’s stock after selling 1,055 shares during the period. Carret Asset Management LLC’s holdings in U.S. Bancorp were worth $1,679,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Postrock Partners LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter worth about $532,000. Intact Investment Management Inc. increased its stake in U.S. Bancorp by 8.2% during the 4th quarter. Intact Investment Management Inc. now owns 111,700 shares of the financial services provider’s stock valued at $5,343,000 after buying an additional 8,500 shares during the period. LBP AM SA increased its stake in U.S. Bancorp by 10.8% during the 4th quarter. LBP AM SA now owns 18,450 shares of the financial services provider’s stock valued at $882,000 after buying an additional 1,800 shares during the period. Integras Partners LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at about $2,904,000. Finally, Madison Investment Advisors LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at about $96,560,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on USB. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Barclays raised their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Performance

USB stock opened at $40.87 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $63.67 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.73 and a beta of 1.02. The firm has a 50 day simple moving average of $47.03 and a 200 day simple moving average of $47.79. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

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

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

U.S. Bancorp Company 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.