Matrix Asset Advisors Inc. NY Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Matrix Asset Advisors Inc. NY trimmed its holdings in U.S. Bancorp (NYSE:USB) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 621,618 shares of the financial services provider’s stock after selling 3,412 shares during the quarter. U.S. Bancorp makes up 3.2% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 9th largest position. Matrix Asset Advisors Inc. NY’s holdings in U.S. Bancorp were worth $29,732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. Frazier Financial Advisors LLC boosted its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Albion Financial Group UT raised its stake in shares of U.S. Bancorp by 92.8% in the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 335 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USB. Barclays lifted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Truist Financial assumed coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Finally, DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Trading Up 0.9 %

USB stock opened at $49.52 on Tuesday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $49.99 and its 200-day moving average is $47.20. The firm has a market cap of $77.25 billion, a P/E ratio of 13.07, a P/E/G ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

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.