Frank Rimerman Advisors LLC Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Frank Rimerman Advisors LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,074 shares of the financial services provider's stock after selling 6,793 shares during the period. Frank Rimerman Advisors LLC's holdings in U.S. Bancorp were worth $2,156,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sigma Planning Corp boosted its position in U.S. Bancorp by 10.5% in the 3rd quarter. Sigma Planning Corp now owns 8,355 shares of the financial services provider's stock valued at $382,000 after buying an additional 792 shares during the period. Nations Financial Group Inc. IA ADV bought a new position in U.S. Bancorp in the third quarter worth approximately $263,000. Prime Capital Investment Advisors LLC increased its holdings in U.S. Bancorp by 35.7% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider's stock worth $607,000 after purchasing an additional 3,491 shares during the period. Empower Advisory Group LLC raised its position in U.S. Bancorp by 11.3% during the 3rd quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider's stock valued at $257,000 after purchasing an additional 572 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of U.S. Bancorp by 8.9% in the 3rd quarter. Metis Global Partners LLC now owns 71,443 shares of the financial services provider's stock worth $3,267,000 after buying an additional 5,827 shares during the period. Institutional investors own 77.60% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, 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 sale, the chief executive officer now directly owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company's stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

USB traded up $0.36 on Wednesday, reaching $42.64. 12,042,763 shares of the stock were exchanged, compared to its average volume of 7,816,117. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company's 50-day moving average price is $46.63 and its 200 day moving average price is $47.73. The firm has a market capitalization of $66.44 billion, a PE ratio of 11.25, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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

U.S. Bancorp Dividend Announcement

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. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.69%. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. 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 report on Thursday, December 19th. Bank of America lowered their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday. Oppenheimer lifted 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. Piper Sandler raised U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 target price on the stock in a research report on Monday, January 13th. Finally, Barclays boosted their price target 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. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $53.93.

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.