U.S. Bancorp (NYSE:USB) is CORDA Investment Management LLC.’s 7th Largest Position

CORDA Investment Management LLC. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 939,792 shares of the financial services provider’s stock after selling 10,697 shares during the quarter. U.S. Bancorp accounts for 3.6% of CORDA Investment Management LLC.’s portfolio, making the stock its 7th largest position. CORDA Investment Management LLC. owned approximately 0.06% of U.S. Bancorp worth $44,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of USB. Linscomb Wealth Inc. raised its position in U.S. Bancorp by 18.6% during the 4th quarter. Linscomb Wealth Inc. now owns 6,249 shares of the financial services provider’s stock worth $299,000 after buying an additional 980 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of U.S. Bancorp by 6.8% in the fourth quarter. QRG Capital Management Inc. now owns 85,624 shares of the financial services provider’s stock worth $4,095,000 after acquiring an additional 5,427 shares during the period. Brueske Advisory Services LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $207,000. First Command Advisory Services Inc. lifted its position in U.S. Bancorp by 17.5% during the fourth quarter. First Command Advisory Services Inc. now owns 1,858 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 277 shares during the period. Finally, Alecta Tjanstepension Omsesidigt purchased a new stake in U.S. Bancorp in the fourth quarter valued at $111,274,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $46.22 on Friday. The stock has a market capitalization of $72.10 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a 50-day simple moving average of $47.93 and a 200-day simple moving average of $47.76. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business 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 business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.38 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. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on USB. Piper Sandler upgraded 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, January 13th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Compass Point increased their price target 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. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly owns 198,127 shares in the company, valued at approximately $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 in the last ninety days. 0.23% of the stock is owned by 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.