KCM Investment Advisors LLC lessened its position in U.S. Bancorp (NYSE:USB – Free Report) by 11.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,998 shares of the financial services provider’s stock after selling 14,942 shares during the period. KCM Investment Advisors LLC’s holdings in U.S. Bancorp were worth $3,868,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Nemes Rush Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter worth approximately $25,000. Legacy Financial Group LLC acquired a new stake in shares of U.S. Bancorp in the third quarter worth $30,000. Compass Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at $39,000. Union Savings Bank acquired a new position in U.S. Bancorp during the second quarter valued at $37,000. Finally, Archer Investment Corp lifted its stake in U.S. Bancorp by 63.2% in the 2nd quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 379 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Morgan Stanley lifted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 30th. Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective on the stock in a research note on Thursday, December 14th. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.35.
Check Out Our Latest Stock Report on USB
U.S. Bancorp Stock Performance
Shares of NYSE:USB traded down $0.92 during trading on Wednesday, reaching $39.18. The stock had a trading volume of 4,068,241 shares, compared to its average volume of 9,619,704. The stock has a fifty day simple moving average of $42.08 and a two-hundred day simple moving average of $37.74. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $49.67. The firm has a market capitalization of $61.00 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 2.04 and a beta of 1.04.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.
U.S. Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.49 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.96 dividend on an annualized basis and a yield of 5.00%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio (DPR) is 59.76%.
Insiders Place Their Bets
In other news, insider Shailesh M. Kotwal sold 2,954 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the sale, the insider now directly owns 119,768 shares of the company’s stock, valued at $4,738,022.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares in the company, valued at $4,313,616.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shailesh M. Kotwal sold 2,954 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the transaction, the insider now directly owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,439 shares of company stock valued at $2,865,224 in the last three months. Company insiders own 0.24% of the company’s stock.
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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