Corient Private Wealth LLC Sells 70,561 Shares of U.S. Bancorp (NYSE:USB)

Corient Private Wealth LLC reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 616,644 shares of the financial services provider's stock after selling 70,561 shares during the quarter. Corient Private Wealth LLC's holdings in U.S. Bancorp were worth $29,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in U.S. Bancorp by 1.2% during the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock valued at $3,110,115,000 after buying an additional 819,805 shares during the period. FMR LLC boosted its stake in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares during the period. Geode Capital Management LLC increased its stake in shares of U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider's stock worth $1,507,616,000 after purchasing an additional 599,852 shares in the last quarter. Finally, Amundi increased its stake in shares of U.S. Bancorp by 7.4% in the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after purchasing an additional 1,341,407 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

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U.S. Bancorp Trading Up 0.4 %

USB stock traded up $0.16 during midday trading on Friday, reaching $42.77. 68,990,927 shares of the company traded hands, compared to its average volume of 8,068,181. The firm has a market capitalization of $66.63 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business has a 50 day moving average of $46.40 and a 200-day moving average of $47.66. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. U.S. Bancorp's dividend payout ratio is presently 52.77%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on USB shares. Oppenheimer lifted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Bank of America lowered their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday. Morgan Stanley reduced their target price on shares of U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their price target for the company from $49.00 to $65.00 in a report on Monday, November 25th. Finally, DA Davidson upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.93.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company's stock, valued at approximately $9,837,274.72. This represents a 24.05 % 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, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company's stock.

U.S. Bancorp Profile

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.