Cary Street Partners Investment Advisory LLC Sells 929 Shares of U.S. Bancorp (NYSE:USB)

Cary Street Partners Investment Advisory LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 5.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,847 shares of the financial services provider’s stock after selling 929 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in U.S. Bancorp were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Vanguard Group Inc. increased its stake 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 worth $4,513,127,000 after buying an additional 6,479,642 shares during the period. Mufg Bank LTD. increased 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 worth $2,260,450,000 after acquiring an additional 24,000,000 shares during the period. FMR LLC raised its stake 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 acquiring an additional 674,583 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 5.5% in 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 during the period. Finally, Aristotle Capital Management LLC grew its stake in U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after purchasing an additional 17,066,479 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $40.63 on Wednesday. The stock’s fifty day moving average price is $42.33 and its 200 day moving average price is $40.34. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market cap of $63.31 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 2.15 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that U.S. Bancorp will post 3.85 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.82%. U.S. Bancorp’s payout ratio is currently 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the company’s 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 sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on USB. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. UBS Group dropped their target price on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Morgan Stanley upped their price target on shares of 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, HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $46.14.

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.