Laffer Tengler Investments Inc. Sells 219,548 Shares of U.S. Bancorp (NYSE:USB)

Laffer Tengler Investments Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 86.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 34,419 shares of the financial services provider's stock after selling 219,548 shares during the period. Laffer Tengler Investments Inc.'s holdings in U.S. Bancorp were worth $1,646,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winch Advisory Services LLC grew its holdings in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock worth $26,000 after purchasing an additional 490 shares during the period. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp during the fourth quarter worth about $28,000. Global Wealth Strategies & Associates grew its holdings in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock worth $29,000 after purchasing an additional 250 shares during the period. Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $30,000. Finally, Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after purchasing an additional 441 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

USB traded up $0.39 during trading on Friday, hitting $44.77. 10,793,152 shares of the stock traded hands, compared to its average volume of 9,264,088. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a market cap of $69.84 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.73 and a beta of 1.02. 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 business has a 50 day moving average price of $47.54 and a 200 day moving average price of $47.87.

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U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company's revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the company's 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 in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research analyst reports. Truist Financial initiated coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a "hold" rating and a $54.00 price objective for the company. Morgan Stanley reduced their price objective on U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating for the company in a report on Friday, January 17th. DA Davidson upgraded U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Oppenheimer boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Moderate Buy" and an average price target of $54.21.

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.