Professional Advisory Services Inc. Cuts Stake in U.S. Bancorp (NYSE:USB)

Professional Advisory Services Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 12.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 398,569 shares of the financial services provider’s stock after selling 54,157 shares during the quarter. U.S. Bancorp accounts for 2.6% of Professional Advisory Services Inc.’s holdings, making the stock its 24th largest position. Professional Advisory Services Inc.’s holdings in U.S. Bancorp were worth $19,064,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Natixis Advisors LLC lifted its stake in U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter worth about $1,018,000. M&T Bank Corp lifted its position in shares of U.S. Bancorp by 2.8% in the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in U.S. Bancorp by 544.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $48.40 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average is $50.22 and its two-hundred day moving average is $46.72. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, analysts expect that U.S. Bancorp will post 3.91 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analyst Ratings Changes

Several analysts have recently issued reports on USB shares. Oppenheimer increased their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.