Los Angeles Capital Management LLC decreased its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 69.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,396 shares of the financial services provider’s stock after selling 18,697 shares during the quarter. Los Angeles Capital Management LLC’s holdings in U.S. Bancorp were worth $363,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Scotia Capital Inc. grew its holdings in shares of U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares in the last quarter. Spinnaker Trust purchased a new stake in U.S. Bancorp during the 4th quarter valued at about $220,000. Tealwood Asset Management Inc. raised its holdings in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $4,073,000. Finally, abrdn plc lifted its stake in U.S. Bancorp by 71.9% in the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after purchasing an additional 272,976 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp Price Performance
U.S. Bancorp stock opened at $41.85 on Monday. The company has a fifty day simple moving average of $42.36 and a 200-day simple moving average of $40.79. The stock has a market cap of $65.31 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05. U.S. Bancorp has a 12-month low of $28.53 and a 12-month high of $45.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 EPS. Equities analysts expect that U.S. Bancorp will post 3.84 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.
Insider Activity
In other news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on USB. Barclays cut their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Jefferies Financial Group raised their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. Royal Bank of Canada raised their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Finally, Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.02.
View Our Latest Stock Report on USB
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.
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Source: defenseworld.net
