U.S. Bancorp (NYSE:USB) is CORDA Investment Management LLC.’s 7th Largest Position

CORDA Investment Management LLC. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 939,792 shares of the financial services provider’s stock after selling 10,697 shares during the period. U.S. Bancorp comprises 3.6% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 7th largest position. CORDA Investment Management LLC.’s holdings in U.S. Bancorp were worth $44,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of USB. Winch Advisory Services LLC increased its holdings in U.S. Bancorp by 1,088.9% during the 4th 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 worth approximately $28,000. Global Wealth Strategies & Associates increased 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 worth $29,000 after buying an additional 250 shares during the period. Stonebridge Financial Group LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $30,000. Finally, Frazier Financial Advisors LLC lifted its stake in 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 acquiring an additional 441 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE USB opened at $46.22 on Friday. The firm has a market cap of $72.10 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business’s 50-day moving average price is $47.93 and its 200 day moving average price is $47.76. 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 announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the business posted $0.99 EPS. The company’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 4.33%. U.S. Bancorp’s payout ratio is currently 52.77%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on USB. 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 report on Monday, January 6th. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Oppenheimer raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

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.