National Bank of Canada FI Reduces Position in U.S. Bancorp (NYSE:USB)

National Bank of Canada FI reduced its position in U.S. Bancorp (NYSE:USB) by 77.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 801,864 shares of the financial services provider’s stock after selling 2,735,031 shares during the quarter. National Bank of Canada FI’s holdings in U.S. Bancorp were worth $38,354,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $26,000. Winch Advisory Services LLC increased its stake 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 purchasing 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 valued at $28,000. Global Wealth Strategies & Associates boosted its stake in shares of U.S. Bancorp by 70.8% during 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 period. Finally, Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp in the 4th quarter worth about $30,000. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. 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. Truist Financial started coverage on U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Barclays raised their price target on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup lowered their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Ten equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.21.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction that occurred 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 sale, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly 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. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Up 3.1 %

U.S. Bancorp stock opened at $43.05 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $67.07 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The stock has a 50-day moving average of $45.36 and a two-hundred day moving average of $47.52. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company 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 EPS. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. U.S. Bancorp’s dividend payout ratio is currently 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.