Frank Rimerman Advisors LLC Decreases Stake in U.S. Bancorp (NYSE:USB)

Frank Rimerman Advisors LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 13.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,074 shares of the financial services provider’s stock after selling 6,793 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in U.S. Bancorp were worth $2,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC boosted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares during the period. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Morgan Stanley decreased their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a 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.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Trading Up 2.8 %

NYSE:USB opened at $42.06 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a market capitalization of $65.53 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.73 and a beta of 1.02. 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 business has a 50 day simple moving average of $46.90 and a 200 day simple moving average of $47.77.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

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.