AXQ Capital LP Has $278,000 Position in U.S. Bancorp (NYSE:USB)

AXQ Capital LP lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 17.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,822 shares of the financial services provider’s stock after selling 1,257 shares during the quarter. AXQ Capital LP’s holdings in U.S. Bancorp were worth $278,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. J.Safra Asset Management Corp acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $26,000. Winch Advisory Services LLC raised 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 during the period. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $28,000. Global Wealth Strategies & Associates raised 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 during the period. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Truist Financial started coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday, March 17th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Finally, Oppenheimer increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $42.77 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a 50 day moving average of $46.31 and a 200-day moving average of $47.65. The company has a market capitalization of $66.63 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In related news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp 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 completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp 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 directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

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.