U.S. Bancorp (NYSE:USB) Position Reduced by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 21.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 43,662 shares of the financial services provider’s stock after selling 11,624 shares during the period. Koss Olinger Consulting LLC’s holdings in U.S. Bancorp were worth $2,088,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. Winch Advisory Services LLC increased 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 worth $26,000 after buying an additional 490 shares during the last quarter. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp in the fourth quarter worth approximately $28,000. Global Wealth Strategies & Associates increased its holdings 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 worth $29,000 after buying an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp in the fourth quarter worth approximately $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, 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 transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Morgan Stanley dropped their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research report on Monday, January 13th. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Monday. Finally, Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.98.

U.S. Bancorp Stock Up 0.1 %

Shares of USB stock opened at $42.23 on Wednesday. The stock has a market cap of $65.80 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a fifty day moving average price of $46.63 and a 200 day moving average price of $47.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last issued its 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. 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 analysts’ expectations of $7 billion. During the same period last year, the business earned $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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