Kornitzer Capital Management Inc. KS Has $2.71 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Kornitzer Capital Management Inc. KS cut its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 56,585 shares of the financial services provider’s stock after selling 446 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in U.S. Bancorp were worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of USB. Winch Advisory Services LLC increased its stake in shares of 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 worth $26,000 after purchasing an additional 490 shares during the last quarter. Frazier Financial Advisors LLC increased its stake in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing 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 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth about $30,000. Finally, Albion Financial Group UT increased its stake in shares of U.S. Bancorp by 92.8% during the 4th quarter. Albion Financial Group UT now owns 696 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 335 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on USB shares. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Evercore ISI lifted their target price 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. Morgan Stanley reduced their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Truist Financial began coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.89 on Wednesday. The firm has a 50 day moving average of $48.47 and a 200-day moving average of $47.62. The stock has a market capitalization of $74.71 billion, a PE ratio of 12.64, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. 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 issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. On average, equities research analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

About U.S. Bancorp

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.