Handelsbanken Fonder AB Reduces Position in U.S. Bancorp $USB

Handelsbanken Fonder AB decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 403,240 shares of the financial services provider’s stock after selling 18,010 shares during the period. Handelsbanken Fonder AB’s holdings in U.S. Bancorp were worth $21,517,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of USB. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp during the third quarter worth $25,000. Financial Life Planners acquired a new stake in shares of U.S. Bancorp during the third quarter worth $25,000. Clayton Financial Group LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $25,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the third quarter worth $28,000. Finally, Binnacle Investments Inc boosted its holdings in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several analyst reports. UBS Group restated a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a report on Wednesday, February 4th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Evercore raised their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. Royal Bank Of Canada raised their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average price target of $61.20.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $54.49 on Thursday. U.S. Bancorp has a twelve month low of $42.21 and a twelve month high of $61.19. The stock has a market capitalization of $84.58 billion, a P/E ratio of 11.42, a PEG ratio of 0.96 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The business’s fifty day moving average price is $53.97 and its 200 day moving average price is $53.58.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, research analysts anticipate that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s payout ratio is currently 43.61%.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.