Carlson Capital Management Cuts Position in U.S. Bancorp (NYSE:USB)

Carlson Capital Management trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,335 shares of the financial services provider’s stock after selling 1,349 shares during the period. Carlson Capital Management’s holdings in U.S. Bancorp were worth $590,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $26,000. Winch Advisory Services LLC increased its stake in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after buying an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its stake in 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 purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point increased their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial assumed coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays increased their price target 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. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.98.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $42.19 on Tuesday. 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 stock has a fifty day moving average price of $46.76 and a 200 day moving average price of $47.76. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a market cap of $65.72 billion, a PE ratio of 11.13, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is 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.