Laffer Tengler Investments Inc. Trims Stock Position in U.S. Bancorp (NYSE:USB)

Laffer Tengler Investments Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 86.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,419 shares of the financial services provider’s stock after selling 219,548 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in U.S. Bancorp were worth $1,646,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp grew its holdings in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC boosted its holdings in shares of U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of U.S. Bancorp by 5.2% during the 4th 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 period. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after buying an additional 599,852 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of U.S. Bancorp by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after buying an additional 436,252 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Oppenheimer boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a report on Monday, January 13th. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 3.6 %

Shares of USB opened at $44.56 on Wednesday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a 50-day moving average price of $47.79 and a 200 day moving average price of $47.91. 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 company has a market capitalization of $69.51 billion, a P/E ratio of 11.76, a P/E/G ratio of 1.73 and a beta of 1.04.

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

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.