U.S. Bancorp (NYSE:USB) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,695 shares of the financial services provider’s stock after selling 27,018 shares during the period. Concurrent Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,233,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of USB. FMR LLC boosted its stake in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of U.S. Bancorp by 109.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock worth $161,491,000 after purchasing an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last 90 days. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.9 %

USB opened at $45.88 on Friday. The firm has a market capitalization of $71.57 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.75 and a beta of 1.04. The firm’s 50 day moving average is $48.19 and its 200-day moving average is $47.64. U.S. Bancorp has a 52-week low of $37.81 and a 52-week 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.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. Analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. 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 4.36%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analyst Ratings Changes

Several research analysts have recently weighed in on USB shares. Oppenheimer increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Truist Financial started coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.