Accent Capital Management LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Accent Capital Management LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 38.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the financial services provider’s stock after selling 3,800 shares during the period. Accent Capital Management LLC’s holdings in U.S. Bancorp were worth $290,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Michael A. Dubis Financial Planning LLC bought a new position in shares of U.S. Bancorp in the fourth quarter worth $283,000. Allstate Corp bought a new position in U.S. Bancorp in the 4th quarter worth about $2,228,000. DnB Asset Management AS grew its holdings in U.S. Bancorp by 0.5% during the 4th quarter. DnB Asset Management AS now owns 606,525 shares of the financial services provider’s stock valued at $29,010,000 after buying an additional 2,855 shares in the last quarter. Premier Fund Managers Ltd increased its position in shares of U.S. Bancorp by 1.5% during the fourth quarter. Premier Fund Managers Ltd now owns 153,820 shares of the financial services provider’s stock valued at $7,422,000 after buying an additional 2,300 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of U.S. Bancorp by 13.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 929,408 shares of the financial services provider’s stock worth $44,454,000 after buying an additional 109,043 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 2.4 %

Shares of U.S. Bancorp stock opened at $42.21 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market cap of $65.77 billion, a P/E ratio of 11.14, a PEG ratio of 1.73 and a beta of 1.02. The company’s fifty day simple moving average is $45.74 and its two-hundred day simple moving average is $47.55.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is 52.77%.

Analyst Ratings Changes

A number of analysts recently weighed in on USB shares. Barclays upped their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial began coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective on the stock. Wells Fargo & Company reduced their target price on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley lowered their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.21.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

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.