U.S. Bancorp $USB Stock Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lessened its position in U.S. Bancorp (NYSE:USB) by 25.9% during the third quarter, Holdings Channel.com reports. The fund owned 26,637 shares of the financial services provider’s stock after selling 9,315 shares during the period. Prime Capital Investment Advisors LLC’s holdings in U.S. Bancorp were worth $1,539,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in USB. Dimensional Fund Advisors LP boosted its holdings in shares of U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares during the period. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp in the second quarter worth about $2,680,199,000. Wasatch Advisors LP bought a new stake in shares of U.S. Bancorp in the first quarter worth about $4,768,000. Illinois Municipal Retirement Fund increased its holdings in U.S. Bancorp by 57.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock valued at $4,798,000 after purchasing an additional 33,517 shares during the period. Finally, Cardinal Capital Management Inc. increased its holdings in U.S. Bancorp by 5.4% during the 2nd quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider’s stock valued at $19,725,000 after purchasing an additional 16,814 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on USB shares. Citigroup lowered their price target on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 20th. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $75.00 in a research report on Monday, July 6th. Truist Financial reduced their target price on U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $69.19.

U.S. Bancorp Trading Up 1.5%

NYSE:USB opened at $59.96 on Friday. The company has a 50-day moving average price of $60.37 and a 200-day moving average price of $59.25. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market cap of $93.42 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.13 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. Equities analysts predict that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s payout ratio is currently 42.11%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.