Professional Advisory Services Inc. Cuts Stake in U.S. Bancorp (NYSE:USB)

Professional Advisory Services Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,569 shares of the financial services provider’s stock after selling 54,157 shares during the quarter. U.S. Bancorp accounts for approximately 2.6% of Professional Advisory Services Inc.’s holdings, making the stock its 24th biggest position. Professional Advisory Services Inc.’s holdings in U.S. Bancorp were worth $19,064,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of USB. Winch Advisory Services LLC raised 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. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates lifted its position in U.S. Bancorp by 70.8% in the 4th 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in U.S. Bancorp during the 4th quarter valued at $38,000. Finally, Kimelman & Baird LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth $40,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.8 %

USB stock opened at $48.40 on Friday. The business’s 50-day moving average price is $50.22 and its 200-day moving average price is $46.72. The stock has a market cap of $75.50 billion, a P/E ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

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, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 3.91 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 4.13%. U.S. Bancorp’s payout ratio is presently 61.16%.

Analysts Set New Price Targets

Several equities research analysts recently commented on USB shares. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Compass Point lifted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler raised shares of 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. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $54.21.

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.