Concord Wealth Partners Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Concord Wealth Partners decreased its position in shares of U.S. Bancorp (NYSE:USB) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,897 shares of the financial services provider’s stock after selling 1,169 shares during the period. Concord Wealth Partners’ holdings in U.S. Bancorp were worth $428,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in USB. CGC Financial Services LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new position in shares of U.S. Bancorp in the third quarter worth $30,000. Finally, Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $41.05 on Thursday. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a 50-day simple moving average of $42.33 and a 200-day simple moving average of $40.34. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $63.96 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.11 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.93% and a net margin of 12.13%. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. On average, analysts predict that U.S. Bancorp will post 3.85 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors 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 annualized dividend and a dividend yield of 4.77%. U.S. Bancorp’s payout ratio is currently 64.90%.

Insiders Place Their Bets

In other U.S. Bancorp 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 transaction 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 approximately $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on USB shares. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Evercore ISI lifted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.02.

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.