Tucker Asset Management LLC Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

Tucker Asset Management LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,382 shares of the financial services provider’s stock after selling 1,255 shares during the period. Tucker Asset Management LLC’s holdings in U.S. Bancorp were worth $305,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock worth $6,640,569,000 after buying an additional 1,079,056 shares during the period. State Street Corp increased its position in shares of U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after acquiring an additional 819,805 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of U.S. Bancorp by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the period. Finally, Amundi grew its stake in U.S. Bancorp by 7.4% during the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider’s stock worth $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 2.4 %

U.S. Bancorp stock opened at $42.21 on Friday. 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 stock’s 50 day moving average price is $45.74 and its 200 day moving average price is $47.55. The company has a market cap of $65.77 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 EPS. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Oppenheimer increased their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Truist Financial started coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price objective for the company. Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Finally, Wells Fargo & Company decreased their price objective on shares of U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $53.21.

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.