Bahl & Gaynor Inc. Lowers Holdings in U.S. Bancorp (NYSE:USB)

Bahl & Gaynor Inc. cut its holdings in U.S. Bancorp (NYSE:USB) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,665,990 shares of the financial services provider’s stock after selling 392,025 shares during the period. U.S. Bancorp accounts for 1.7% of Bahl & Gaynor Inc.’s holdings, making the stock its 19th biggest holding. Bahl & Gaynor Inc. owned 0.43% of U.S. Bancorp worth $288,504,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AM Investment Strategies LLC raised its holdings in shares of U.S. Bancorp by 3.0% during the 4th quarter. AM Investment Strategies LLC now owns 117,286 shares of the financial services provider’s stock worth $5,076,000 after acquiring an additional 3,406 shares in the last quarter. Sandhill Capital Partners LLC raised its holdings in shares of U.S. Bancorp by 13.2% during the 4th quarter. Sandhill Capital Partners LLC now owns 1,182,616 shares of the financial services provider’s stock worth $51,184,000 after acquiring an additional 137,729 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings 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 worth $726,000 after acquiring an additional 10,000 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings 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 worth $1,565,000 after acquiring an additional 1,813 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings 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 worth $2,661,000 after acquiring an additional 8,750 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

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

Analyst Ratings Changes

Several analysts have recently issued reports on USB shares. Evercore ISI upped their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Barclays decreased their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Morgan Stanley increased their price target on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Oppenheimer decreased their price target on 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, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.14.

U.S. Bancorp Trading Up 0.3 %

U.S. Bancorp stock opened at $41.12 on Friday. The stock has a 50-day moving average of $42.34 and a two-hundred day moving average of $40.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The stock has a market cap of $64.07 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

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.