AdvisorNet Financial Inc Cuts Stake in U.S. Bancorp (NYSE:USB)

AdvisorNet Financial Inc cut its holdings in U.S. Bancorp (NYSE:USB) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,573 shares of the financial services provider’s stock after selling 1,239 shares during the period. AdvisorNet Financial Inc’s holdings in U.S. Bancorp were worth $506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in shares of U.S. Bancorp by 70.8% during 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 during the last quarter. Kimelman & Baird LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $40,000. Legacy Investment Solutions LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter valued at about $40,000. Finally, First Financial Corp IN bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $41,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms 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 company from $58.00 to $60.00 in a report on Thursday, January 2nd. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Compass Point raised their price objective 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. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $54.07.

U.S. Bancorp Price Performance

Shares of USB opened at $50.92 on Thursday. The firm has a 50-day simple moving average of $50.25 and a two-hundred day simple moving average of $46.68. The stock has a market cap of $79.44 billion, a PE ratio of 15.57, a P/E/G ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that U.S. Bancorp will post 3.93 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. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.93%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.