Abbrea Capital LLC Sells 1,470 Shares of U.S. Bancorp (NYSE:USB)

Abbrea Capital LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,460 shares of the financial services provider’s stock after selling 1,470 shares during the quarter. Abbrea Capital LLC’s holdings in U.S. Bancorp were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after acquiring an additional 6,479,642 shares during the last quarter. Mufg Bank LTD. grew its position in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares in the last quarter. FMR LLC grew its position in shares of U.S. Bancorp by 1.8% during the third quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock valued at $1,238,765,000 after purchasing an additional 674,583 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,120,947 shares of the financial services provider’s stock valued at $1,028,859,000 after purchasing an additional 1,610,004 shares in the last quarter. Finally, Aristotle Capital Management LLC grew its position in shares of U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock valued at $775,842,000 after purchasing an additional 17,066,479 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Barclays cut their price objective on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Evercore ISI raised their price objective on 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. Morgan Stanley lifted their price target on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Oppenheimer dropped their price target on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Trading Down 1.5 %

Shares of U.S. Bancorp stock traded down $0.62 on Thursday, hitting $40.99. 5,949,517 shares of the company traded hands, compared to its average volume of 8,751,254. The stock’s 50 day moving average price is $42.36 and its 200-day moving average price is $40.04. 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 has a 52 week low of $27.27 and a 52 week high of $45.85. The company has a market cap of $63.87 billion, a PE ratio of 13.58, a PEG ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate 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 was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Equities research analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.78%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

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.