Cambiar Investors LLC Sells 11,402 Shares of U.S. Bancorp (NYSE:USB)

Cambiar Investors LLC cut its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 942,436 shares of the financial services provider's stock after selling 11,402 shares during the quarter. U.S. Bancorp makes up 1.8% of Cambiar Investors LLC's portfolio, making the stock its 23rd largest holding. Cambiar Investors LLC owned about 0.06% of U.S. Bancorp worth $45,077,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group increased its position in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider's stock worth $219,000 after purchasing an additional 201 shares during the last quarter. McAdam LLC increased its position in shares of U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider's stock worth $389,000 after purchasing an additional 209 shares during the last quarter. HCR Wealth Advisors increased its position in shares of U.S. Bancorp by 1.1% during the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider's stock worth $962,000 after purchasing an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC increased its position in shares of U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider's stock worth $243,000 after purchasing an additional 215 shares during the last quarter. Finally, Essex Savings Bank increased its position in shares of U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider's stock worth $591,000 after purchasing an additional 216 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated 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 sale, the insider now owns 99,790 shares of the company's stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 directly owns 209,482 shares of the company's stock, valued at approximately $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 in the last 90 days. Corporate insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on USB. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Truist Financial assumed coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a "hold" rating and a $54.00 target price on the stock. Morgan Stanley decreased 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. Citigroup raised U.S. Bancorp from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.21.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $0.34 during trading on Friday, reaching $47.73. 5,398,695 shares of the company traded hands, compared to its average volume of 9,288,100. The company's 50 day moving average is $48.70 and its two-hundred day moving average is $47.50. The firm has a market capitalization of $74.46 billion, a PE ratio of 12.59, a PEG ratio of 1.77 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $37.81 and a 52 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 earnings per share for the quarter, beating 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 period in the prior year, the company posted $0.99 EPS. The company's revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp's dividend payout ratio is currently 52.77%.

About U.S. Bancorp

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.