Hennessy Advisors Inc. Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Hennessy Advisors Inc. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in U.S. Bancorp were worth $478,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of USB. Winch Advisory Services LLC boosted its position in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the last quarter. Frazier Financial Advisors LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth $38,000. Finally, Kimelman & Baird LLC acquired a new position in U.S. Bancorp during the second quarter valued at $40,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.8 %

USB opened at $48.40 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.47 and a beta of 1.05. The business has a fifty day moving average price of $50.18 and a 200 day moving average price of $46.78. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Sell-side analysts expect that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on USB. Truist Financial initiated coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Wells Fargo & Company lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Compass Point upped their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Evercore ISI increased their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.21.

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.