Bruce G. Allen Investments LLC Sells 355 Shares of U.S. Bancorp (NYSE:USB)

Bruce G. Allen Investments LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,406 shares of the financial services provider’s stock after selling 355 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in U.S. Bancorp were worth $163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Acadian Asset Management LLC raised its holdings in shares of U.S. Bancorp by 3,452.9% in the 2nd quarter. Acadian Asset Management LLC now owns 153,059 shares of the financial services provider’s stock worth $6,074,000 after purchasing an additional 148,751 shares during the period. PFG Investments LLC grew its stake in shares of U.S. Bancorp by 3.7% during the 2nd quarter. PFG Investments LLC now owns 9,373 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 331 shares during the period. Andra AP fonden increased its holdings in U.S. Bancorp by 505.8% in the 2nd quarter. Andra AP fonden now owns 156,900 shares of the financial services provider’s stock worth $6,229,000 after acquiring an additional 131,000 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in U.S. Bancorp by 10.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 169,764 shares of the financial services provider’s stock valued at $6,740,000 after acquiring an additional 15,702 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in U.S. Bancorp during the second quarter valued at about $273,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on USB shares. Stephens boosted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday. They set a “hold” rating and a $54.00 target price on the stock. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research report on Thursday, December 19th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $54.07.

U.S. Bancorp Price Performance

Shares of USB stock traded down $1.10 during trading hours on Friday, hitting $47.42. 5,312,746 shares of the company’s stock were exchanged, compared to its average volume of 6,073,883. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a market capitalization of $73.98 billion, a PE ratio of 14.50, a PEG ratio of 3.01 and a beta of 1.05. The business’s 50 day simple moving average is $50.21 and its 200-day simple moving average is $46.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.22%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company 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.