Kornitzer Capital Management Inc. KS Has $2.71 Million Stake in U.S. Bancorp (NYSE:USB)

Kornitzer Capital Management Inc. KS trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,585 shares of the financial services provider’s stock after selling 446 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in U.S. Bancorp were worth $2,706,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Winch Advisory Services LLC lifted its position in shares of U.S. Bancorp by 1,088.9% during 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 in the last quarter. Global Wealth Strategies & Associates lifted its position 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 worth $29,000 after purchasing an additional 250 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $30,000. Frazier Financial Advisors LLC lifted its position in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.3 %

Shares of NYSE:USB opened at $47.89 on Wednesday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company’s fifty day simple moving average is $48.47 and its 200 day simple moving average is $47.62. The firm has a market cap of $74.71 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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 business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the business posted $0.99 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.18%. U.S. Bancorp’s payout ratio is 52.77%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on USB shares. Truist Financial started coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price objective 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. Finally, Morgan Stanley reduced their price objective 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. Ten 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, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.21.

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.