U.S. Bancorp (NYSE:USB) Stake Lessened by KCM Investment Advisors LLC

KCM Investment Advisors LLC lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 34.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,043 shares of the financial services provider's stock after selling 28,191 shares during the quarter. KCM Investment Advisors LLC's holdings in U.S. Bancorp were worth $2,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock worth $2,381,443,000 after buying an additional 2,460,845 shares in the last quarter. Geode Capital Management LLC boosted its position in U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after acquiring an additional 850,763 shares during the last quarter. Amundi lifted its stake in shares of U.S. Bancorp by 7.4% during the 4th quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after purchasing an additional 1,341,407 shares during the period. Finally, Norges Bank acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $777,524,000. Institutional investors and hedge funds own 77.60% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on USB. Wells Fargo & Company reduced their target price on U.S. Bancorp from $62.00 to $56.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Citigroup cut their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Morgan Stanley lowered their target price on shares of U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Monday. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Piper Sandler raised shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. 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 company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.52.

U.S. Bancorp Stock Performance

Shares of USB stock traded down $0.52 on Friday, hitting $36.73. 5,497,622 shares of the stock traded hands, compared to its average volume of 8,922,561. The company has a market capitalization of $57.23 billion, a PE ratio of 9.70, a PEG ratio of 1.73 and a beta of 0.91. The company's fifty day moving average is $43.65 and its 200 day moving average is $47.07. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the firm posted $0.99 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts predict 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 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 5.45%. U.S. Bancorp's dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,230,316 shares of the company's stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the 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 transaction, the executive vice president now directly owns 198,127 shares of the company's stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 in the last three months. 0.23% of the stock is owned by insiders.

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.