Entropy Technologies LP Lowers Stake in U.S. Bancorp $USB

Entropy Technologies LP reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 22.9% in the fourth quarter, HoldingsChannel reports. The fund owned 54,511 shares of the financial services provider’s stock after selling 16,159 shares during the period. Entropy Technologies LP’s holdings in U.S. Bancorp were worth $2,909,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of USB. Brighton Jones LLC increased its stake in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Empowered Funds LLC increased its stake in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC increased its stake in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at about $425,000. Finally, Nebula Research & Development LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at about $701,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $58.90 on Monday. The company has a 50 day moving average price of $55.25 and a 200-day moving average price of $54.58. U.S. Bancorp has a 52 week low of $42.55 and a 52 week high of $61.19. The firm has a market capitalization of $91.37 billion, a PE ratio of 12.35, a P/E/G ratio of 1.07 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 5.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on USB shares. Truist Financial reduced their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Royal Bank Of Canada raised their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.