SNS Financial Group LLC Reduces Stock Position in U.S. Bancorp (NYSE:USB)

SNS Financial Group LLC decreased its position in U.S. Bancorp (NYSE:USB) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,993 shares of the financial services provider’s stock after selling 2,545 shares during the quarter. SNS Financial Group LLC’s holdings in U.S. Bancorp were worth $1,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Winch Advisory Services LLC increased its holdings in U.S. Bancorp by 1,088.9% during the 4th 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 grew its position in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in shares of 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 buying an additional 250 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $30,000. Finally, Albion Financial Group UT lifted its stake in U.S. Bancorp by 92.8% in the fourth quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 335 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $47.10 on Thursday. The company has a market capitalization of $73.48 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $48.38 and a 200 day moving average of $47.61.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.25%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

A number of research analysts have issued reports on USB shares. Evercore ISI boosted 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. Truist Financial began coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Barclays upped their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction on Wednesday, February 5th. The stock was 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 owns 198,127 shares of the company’s stock, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last three months. Insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.