Heritage Oak Wealth Advisors LLC Cuts Stake in U.S. Bancorp (NYSE:USB)

Heritage Oak Wealth Advisors LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 39.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,424 shares of the financial services provider’s stock after selling 2,843 shares during the period. Heritage Oak Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $212,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in USB. Brooklyn Investment Group boosted its position in shares of U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 201 shares during the last quarter. Capital Performance Advisors LLP boosted its holdings in shares of U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 210 shares during the last quarter. HCR Wealth Advisors grew its position in shares of U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC lifted its position in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares in the last quarter. Finally, Essex Savings Bank boosted its stake in U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on USB. Barclays upped their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Morgan Stanley decreased their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Evercore ISI increased their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $45.67 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $71.24 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The firm has a 50-day moving average of $47.96 and a two-hundred day moving average of $47.77. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last three months. Corporate insiders own 0.23% of the company’s stock.

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.