U.S. Bancorp (NYSE:USB) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its position in U.S. Bancorp (NYSE:USB - Free Report) by 83.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,485 shares of the financial services provider's stock after selling 488,650 shares during the quarter. Neuberger Berman Group LLC's holdings in U.S. Bancorp were worth $4,711,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $777,524,000. Invesco Ltd. boosted its holdings in shares of U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the period. Franklin Resources Inc. grew its stake in U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider's stock worth $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. purchased a new position in U.S. Bancorp during the 4th quarter worth $184,733,000. Finally, FMR LLC raised its position in U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,451 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on USB shares. Raymond James raised U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Barclays increased their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Citigroup lowered their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, March 24th. Piper Sandler raised shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Finally, Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $52.52.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $0.42 during trading on Tuesday, hitting $38.62. The company had a trading volume of 11,700,982 shares, compared to its average volume of 9,011,678. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The stock has a fifty day simple moving average of $43.28 and a two-hundred day simple moving average of $46.98. The firm has a market capitalization of $60.17 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $7.01 billion during 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. On average, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) 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.