Cornerstone Advisors LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Cornerstone Advisors LLC cut its position in U.S. Bancorp (NYSE:USBFree Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,400 shares of the financial services provider’s stock after selling 2,900 shares during the period. Cornerstone Advisors LLC’s holdings in U.S. Bancorp were worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vestor Capital LLC boosted its holdings in shares of U.S. Bancorp by 1.5% in the 4th quarter. Vestor Capital LLC now owns 17,179 shares of the financial services provider’s stock valued at $744,000 after buying an additional 253 shares in the last quarter. Mosaic Family Wealth Partners LLC boosted its stake in U.S. Bancorp by 1.4% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 265 shares during the period. Wealth Alliance boosted its stake in U.S. Bancorp by 0.5% during the 4th quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 266 shares during the period. Mechanics Financial Corp boosted its stake in U.S. Bancorp by 4.9% during the 4th quarter. Mechanics Financial Corp now owns 6,386 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 300 shares during the period. Finally, Cigna Investments Inc. New boosted its stake in U.S. Bancorp by 1.9% during the 4th quarter. Cigna Investments Inc. New now owns 16,632 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 308 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Fifteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.02.

View Our Latest Stock Analysis on USB

U.S. Bancorp Trading Up 0.0 %

Shares of USB traded up $0.01 during mid-day trading on Monday, hitting $41.44. The company had a trading volume of 1,813,253 shares, compared to its average volume of 8,381,564. The business’s 50-day simple moving average is $42.22 and its 200-day simple moving average is $41.22. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. U.S. Bancorp has a 1-year low of $29.33 and a 1-year high of $45.85. The stock has a market cap of $64.67 billion, a PE ratio of 13.77, a P/E/G ratio of 2.16 and a beta of 1.05.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for 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 quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given 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 4.73%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

U.S. Bancorp Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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