Csenge Advisory Group Sells 1,055 Shares of U.S. Bancorp (NYSE:USB)

Csenge Advisory Group cut its stake in U.S. Bancorp (NYSE:USB) by 3.1% in the fourth quarter, HoldingsChannel reports. The fund owned 32,537 shares of the financial services provider’s stock after selling 1,055 shares during the period. Csenge Advisory Group’s holdings in U.S. Bancorp were worth $1,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AMF Tjanstepension AB increased its stake in U.S. Bancorp by 16.9% in the third quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock valued at $24,401,000 after purchasing an additional 76,914 shares in the last quarter. nVerses Capital LLC increased its stake in U.S. Bancorp by 44.8% in the third quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,300 shares in the last quarter. Bleakley Financial Group LLC increased its stake in U.S. Bancorp by 8.3% in the third quarter. Bleakley Financial Group LLC now owns 44,122 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 3,383 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in U.S. Bancorp by 26.5% in the third quarter. Aaron Wealth Advisors LLC now owns 7,593 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 1,590 shares in the last quarter. Finally, Stratos Investment Management LLC acquired a new position in shares of U.S. Bancorp in the third quarter valued at approximately $201,000. 77.60% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 over the last ninety days. 0.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on USB. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Compass Point increased their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Price Performance

Shares of USB opened at $47.73 on Monday. The firm has a market capitalization of $74.46 billion, a PE ratio of 12.59, a PEG ratio of 1.77 and a beta of 1.04. The company’s 50-day moving average is $48.61 and its 200-day moving average is $47.53. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

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.