Abbrea Capital LLC Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Abbrea Capital LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 10.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 12,460 shares of the financial services provider’s stock after selling 1,470 shares during the quarter. Abbrea Capital LLC’s holdings in U.S. Bancorp were worth $545,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Pittenger & Anderson Inc. grew its stake in shares of U.S. Bancorp by 147.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 16,775 shares of the financial services provider’s stock valued at $726,000 after buying an additional 10,000 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of U.S. Bancorp by 5.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 36,157 shares of the financial services provider’s stock valued at $1,565,000 after buying an additional 1,813 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of U.S. Bancorp by 16.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 61,244 shares of the financial services provider’s stock valued at $2,661,000 after buying an additional 8,750 shares during the period. Schnieders Capital Management LLC grew its stake in shares of U.S. Bancorp by 4.8% during the 4th quarter. Schnieders Capital Management LLC now owns 40,673 shares of the financial services provider’s stock valued at $1,760,000 after buying an additional 1,880 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $513,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB traded down $0.62 during midday trading on Thursday, reaching $40.99. The stock had a trading volume of 5,949,517 shares, compared to its average volume of 8,751,254. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm’s 50 day moving average price is $42.36 and its 200-day moving average price is $40.04. The company has a market capitalization of $63.87 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, analysts forecast that U.S. Bancorp will post 3.86 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 Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.78%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

Analyst Ratings Changes

A number of brokerages recently weighed in on USB. Morgan Stanley upped their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 target price (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Barclays reduced their price target on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Oppenheimer cut their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.14.

U.S. Bancorp Company 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.