Asset Dedication LLC Sells 354 Shares of U.S. Bancorp (NYSE:USB)

Asset Dedication LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,857 shares of the financial services provider’s stock after selling 354 shares during the period. Asset Dedication LLC’s holdings in U.S. Bancorp were worth $328,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Deane Retirement Strategies Inc. boosted its position in shares of U.S. Bancorp by 1.0% in the fourth quarter. Deane Retirement Strategies Inc. now owns 70,753 shares of the financial services provider’s stock worth $3,384,000 after purchasing an additional 667 shares during the period. SteelPeak Wealth LLC boosted its holdings in U.S. Bancorp by 1,131.4% in the 4th quarter. SteelPeak Wealth LLC now owns 180,292 shares of the financial services provider’s stock worth $8,714,000 after buying an additional 165,651 shares during the period. BSW Wealth Partners increased its stake in U.S. Bancorp by 5.6% in the 4th quarter. BSW Wealth Partners now owns 7,401 shares of the financial services provider’s stock worth $354,000 after buying an additional 393 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in U.S. Bancorp by 2.0% during the fourth quarter. Perigon Wealth Management LLC now owns 20,520 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 394 shares during the period. Finally, Curbstone Financial Management Corp lifted its position in shares of U.S. Bancorp by 1.4% in the fourth quarter. Curbstone Financial Management Corp now owns 39,860 shares of the financial services provider’s stock valued at $1,907,000 after acquiring an additional 538 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley decreased their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Finally, Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Down 1.6 %

Shares of NYSE:USB opened at $47.65 on Thursday. The business has a 50 day simple moving average of $49.93 and a two-hundred day simple moving average of $47.30. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market capitalization of $74.34 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 4.20%. U.S. Bancorp’s payout ratio is currently 52.77%.

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.