Oakworth Capital Inc. Trims Stock Position in U.S. Bancorp (NYSE:USB)

Oakworth Capital Inc. reduced its stake in U.S. Bancorp (NYSE:USB) by 45.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 810 shares of the financial services provider’s stock after selling 666 shares during the quarter. Oakworth Capital Inc.’s holdings in U.S. Bancorp were worth $39,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of USB. Buck Wealth Strategies LLC lifted its holdings in shares of U.S. Bancorp by 68.0% during the fourth quarter. Buck Wealth Strategies LLC now owns 13,737 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 5,558 shares during the period. Adero Partners LLC purchased a new position in U.S. Bancorp during the 4th quarter worth $377,000. Bleakley Financial Group LLC lifted its stake in shares of U.S. Bancorp by 2.2% in the 4th quarter. Bleakley Financial Group LLC now owns 45,084 shares of the financial services provider’s stock worth $2,156,000 after acquiring an additional 962 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in shares of U.S. Bancorp by 7.9% in the fourth quarter. Centennial Wealth Advisory LLC now owns 12,370 shares of the financial services provider’s stock valued at $592,000 after acquiring an additional 908 shares in the last quarter. Finally, Trilogy Capital Inc. increased its stake in shares of U.S. Bancorp by 2.9% during the fourth quarter. Trilogy Capital Inc. now owns 8,434 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 238 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the business’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 value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the 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 directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.69 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The business has a fifty day moving average of $49.33 and a 200-day moving average of $47.42. The stock has a market cap of $74.40 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. The business 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 14.75% and a return on equity of 12.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, analysts predict that U.S. Bancorp will post 4.37 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 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.