First Eagle Investment Management LLC Sells 34,663 Shares of U.S. Bancorp (NYSE:USB)

First Eagle Investment Management LLC reduced its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,875,903 shares of the financial services provider's stock after selling 34,663 shares during the period. First Eagle Investment Management LLC owned about 0.57% of U.S. Bancorp worth $424,534,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of USB. FMR LLC lifted its stake in U.S. Bancorp by 32.7% in 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 in the last quarter. Franklin Resources Inc. increased its holdings in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock valued at $374,573,000 after acquiring an additional 4,807,662 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $184,733,000. Charles Schwab Investment Management Inc. increased its holdings 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 last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at about $111,274,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on USB shares. Morgan Stanley lowered their target price on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Raymond James upgraded U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Citigroup upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their target price for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Barclays raised their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Finally, Truist Financial started coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a "hold" rating and a $54.00 price objective for the company. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.98.

U.S. Bancorp Trading Up 0.1 %

NYSE:USB traded up $0.05 during trading hours on Tuesday, hitting $42.23. The stock had a trading volume of 13,724,713 shares, compared to its average volume of 7,811,413. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $65.80 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.73 and a beta of 1.02. The business's 50 day moving average is $46.76 and its 200-day moving average is $47.76.

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's payout ratio is 52.77%.

U.S. Bancorp Company 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.