abrdn plc Sells 80,360 Shares of U.S. Bancorp (NYSE:USB)

abrdn plc decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 542,475 shares of the financial services provider’s stock after selling 80,360 shares during the period. abrdn plc’s holdings in U.S. Bancorp were worth $25,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Winch Advisory Services LLC lifted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the period. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. Global Wealth Strategies & Associates lifted its position in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. Albion Financial Group UT lifted its position in U.S. Bancorp by 92.8% during the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 335 shares during the period. Finally, Global Trust Asset Management LLC bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $33,000. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on USB shares. Evercore ISI increased their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. Barclays upped their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Performance

USB opened at $47.33 on Thursday. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.77 and a beta of 1.04. The company has a fifty day moving average of $49.45 and a 200 day moving average of $47.42. 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 quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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. 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 analysts’ expectations of $7 billion. During the same period last year, the company posted $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.37 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.23%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is owned by company 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.