Wrapmanager Inc. Cuts Position in U.S. Bancorp (NYSE:USB)

Wrapmanager Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 13.0% during the 4th quarter, HoldingsChannel reports. The fund owned 13,231 shares of the financial services provider’s stock after selling 1,981 shares during the quarter. Wrapmanager Inc.’s holdings in U.S. Bancorp were worth $633,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group grew its holdings in shares of U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after buying an additional 201 shares during the last quarter. Capital Performance Advisors LLP boosted its position in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares during the last quarter. HCR Wealth Advisors increased its holdings in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after buying an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC raised its holdings in U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank lifted its position in shares of U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last quarter. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on USB. Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Morgan Stanley reduced their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Monday, January 13th. Ten equities research 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 stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Down 0.7 %

USB stock opened at $45.57 on Tuesday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a fifty day moving average price of $48.08 and a 200 day moving average price of $47.76. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market cap of $71.08 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.39%. U.S. Bancorp’s payout ratio is currently 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.