Trifecta Capital Advisors LLC Decreases Position in U.S. Bancorp (NYSE:USB)

Trifecta Capital Advisors LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,528 shares of the financial services provider’s stock after selling 422 shares during the period. Trifecta Capital Advisors LLC’s holdings in U.S. Bancorp were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB raised its holdings in shares of U.S. Bancorp by 16.9% in the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of U.S. Bancorp by 19.4% in the third quarter. Assenagon Asset Management S.A. now owns 50,833 shares of the financial services provider’s stock worth $2,325,000 after buying an additional 8,263 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of U.S. Bancorp by 17.7% in the third quarter. Mount Yale Investment Advisors LLC now owns 10,601 shares of the financial services provider’s stock worth $485,000 after buying an additional 1,592 shares during the period. NorthCrest Asset Manangement LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth approximately $281,000. Finally, Modera Wealth Management LLC raised its holdings in shares of U.S. Bancorp by 2.8% in the third quarter. Modera Wealth Management LLC now owns 11,448 shares of the financial services provider’s stock worth $524,000 after buying an additional 316 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on USB. DA Davidson upgraded 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. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research note on Thursday, December 19th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Finally, Barclays increased their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Down 0.7 %

U.S. Bancorp stock opened at $45.57 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 market capitalization of $71.08 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The business has a fifty day moving average price of $48.08 and a 200-day moving average price of $47.76.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.39%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the firm’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 completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s 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. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.

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.