Advisors Asset Management Inc. Trims Position in U.S. Bancorp (NYSE:USB)

Advisors Asset Management Inc. reduced its stake in U.S. Bancorp (NYSE:USB - Free Report) by 43.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,393 shares of the financial services provider's stock after selling 73,846 shares during the quarter. Advisors Asset Management Inc.'s holdings in U.S. Bancorp were worth $4,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Tocqueville Asset Management L.P. grew its holdings in shares of U.S. Bancorp by 0.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 533,065 shares of the financial services provider's stock valued at $25,496,000 after purchasing an additional 1,853 shares during the period. Arrien Investments Inc. purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $282,000. 1ST Source Bank increased its holdings in shares of U.S. Bancorp by 0.9% during the 4th quarter. 1ST Source Bank now owns 32,098 shares of the financial services provider's stock worth $1,535,000 after buying an additional 285 shares during the last quarter. Signaturefd LLC raised its position in shares of U.S. Bancorp by 2.0% during the 4th quarter. Signaturefd LLC now owns 22,548 shares of the financial services provider's stock valued at $1,078,000 after buying an additional 449 shares during the period. Finally, Arbor Capital Management Inc. ADV lifted its holdings in U.S. Bancorp by 1.2% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 32,063 shares of the financial services provider's stock valued at $1,538,000 after acquiring an additional 387 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts recently issued reports on USB shares. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price target on the stock. Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Morgan Stanley cut their target price on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Finally, Bank of America decreased their price target on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.48.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the business's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now directly owns 99,790 shares of the company's stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock valued at $10,385,665 in the last ninety days. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Up 2.3 %

NYSE:USB traded up $0.97 during trading hours on Monday, hitting $43.81. The company's stock had a trading volume of 8,235,005 shares, compared to its average volume of 8,060,275. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $68.25 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The stock has a fifty day moving average of $46.31 and a 200-day moving average of $47.65.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

About U.S. Bancorp

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.