Naples Global Advisors LLC Lowers Stake in U.S. Bancorp (NYSE:USB)

Naples Global Advisors LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 8.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 64,044 shares of the financial services provider’s stock after selling 5,942 shares during the period. Naples Global Advisors LLC’s holdings in U.S. Bancorp were worth $3,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Brooklyn Investment Group raised its holdings in U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after buying an additional 201 shares during the period. McAdam LLC grew its stake in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the period. HCR Wealth Advisors increased its position in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after acquiring an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC raised its stake in shares of U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 215 shares during the period. Finally, Essex Savings Bank lifted its holdings in shares of U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 216 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.1 %

Shares of U.S. Bancorp stock opened at $47.52 on Thursday. The business has a 50-day moving average price of $48.88 and a 200 day moving average price of $47.50. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market cap of $74.13 billion, a P/E ratio of 12.54, a P/E/G ratio of 1.77 and a beta of 1.04. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.21%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Analyst Ratings Changes

USB has been the subject of several recent research reports. Morgan Stanley lowered their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Barclays increased their target price on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Finally, Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Transactions at U.S. Bancorp

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