Hikari Power Ltd lowered its stake in U.S. Bancorp (NYSE:USB – Free Report) by 98.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,300 shares of the financial services provider’s stock after selling 296,630 shares during the quarter. Hikari Power Ltd’s holdings in U.S. Bancorp were worth $229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of USB. CGC Financial Services LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp during the fourth quarter worth about $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp during the third quarter worth about $30,000. Finally, Compass Wealth Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.
Insider Activity
In other news, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders sold a total of 60,265 shares of company stock worth $2,535,903 in the last three months. Company insiders own 0.23% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on USB shares. StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $53.00 in a report on Thursday, March 28th. Keefe, Bruyette & Woods boosted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, Stephens cut U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.41.
Get Our Latest Stock Report on U.S. Bancorp
U.S. Bancorp Price Performance
USB traded down $1.48 during trading on Wednesday, hitting $39.52. 13,999,082 shares of the stock traded hands, compared to its average volume of 8,783,099. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a market cap of $61.58 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 2.14 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day moving average price of $42.33 and a 200 day moving average price of $39.72.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (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 company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.49 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.96%. U.S. Bancorp’s payout ratio is currently 59.76%.
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.
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