Pacer Advisors Inc. Sells 14,712 Shares of U.S. Bancorp $USB

Pacer Advisors Inc. trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 153,268 shares of the financial services provider’s stock after selling 14,712 shares during the period. Pacer Advisors Inc.’s holdings in U.S. Bancorp were worth $8,178,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Financial Life Planners bought a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $25,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp in the third quarter valued at approximately $28,000. Binnacle Investments Inc grew its holdings in U.S. Bancorp by 77.8% in 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. Finally, Rossby Financial LCC grew its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $58.07 on Monday. U.S. Bancorp has a 52-week low of $42.93 and a 52-week high of $61.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a market cap of $90.07 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The business has a 50-day simple moving average of $55.69 and a 200-day simple moving average of $54.90.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 5.08 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Morgan Stanley set a $64.00 target price on U.S. Bancorp in a research note on Friday, April 17th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Finally, DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

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.