U.S. Bancorp (NYSE:USB) Position Cut by Hartford Financial Management Inc.

Hartford Financial Management Inc. lessened its position in U.S. Bancorp (NYSE:USB) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,000 shares of the financial services provider’s stock after selling 700 shares during the period. Hartford Financial Management Inc.’s holdings in U.S. Bancorp were worth $1,578,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $1,567,000. Crews Bank & Trust acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $139,000. Westhampton Capital LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at about $201,000. DMC Group LLC lifted its holdings in U.S. Bancorp by 18.0% in the fourth quarter. DMC Group LLC now owns 23,979 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 3,664 shares during the period. Finally, Abel Hall LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at about $213,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Up 0.8 %

U.S. Bancorp stock opened at $48.04 on Friday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $74.94 billion, a PE ratio of 12.68, a P/E/G ratio of 1.77 and a beta of 1.05. The firm’s 50 day moving average price is $49.87 and its two-hundred day moving average price is $47.30.

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, topping the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $0.99 earnings per share. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on USB. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Compass Point upped their target price 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. 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. Oppenheimer upped their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average 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.