Russell Investments Group Ltd. Reduces Stake in U.S. Bancorp (NYSE:USB)

Russell Investments Group Ltd. lessened its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 937,097 shares of the financial services provider's stock after selling 36,221 shares during the period. Russell Investments Group Ltd. owned 0.06% of U.S. Bancorp worth $44,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $1,018,000. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after buying an additional 1,079,056 shares in the last quarter. M&T Bank Corp increased its position in shares of U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider's stock valued at $38,704,000 after buying an additional 22,803 shares during the period. D.A. Davidson & CO. boosted its position in shares of U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider's stock valued at $18,212,000 after acquiring an additional 38,802 shares during the period. Finally, Keystone Financial Planning Inc. grew its stake in U.S. Bancorp by 29.5% during the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider's stock valued at $3,473,000 after acquiring an additional 16,552 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Oppenheimer raised their price target 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. Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. DA Davidson raised U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their price target for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler raised U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Finally, Barclays lifted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.52.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider now directly 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 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. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Up 1.6 %

Shares of USB stock traded up $0.60 during mid-day trading on Friday, reaching $37.85. The stock had a trading volume of 18,550,879 shares, compared to its average volume of 8,981,594. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock's 50-day moving average price is $43.46 and its two-hundred day moving average price is $47.02. The firm has a market capitalization of $58.97 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results 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 firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 52.77%.

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.