U.S. Bancorp (NYSE:USB) Position Cut by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH trimmed its holdings in U.S. Bancorp (NYSE:USB) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,901 shares of the financial services provider’s stock after selling 351 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in U.S. Bancorp were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its stake in U.S. Bancorp by 1.2% during the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares in the last quarter. FMR LLC boosted its stake in U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

USB stock traded up $0.41 during trading on Monday, reaching $47.79. 1,587,922 shares of the stock were exchanged, compared to its average volume of 5,949,487. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a market capitalization of $74.55 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The stock has a 50 day simple moving average of $50.20 and a 200-day simple moving average of $46.55. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Compass Point raised their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $54.07.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

About U.S. Bancorp

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.