Parallel Advisors LLC Has $966,000 Stock Position in U.S. Bancorp (NYSE:USB)

Parallel Advisors LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,202 shares of the financial services provider’s stock after selling 876 shares during the quarter. Parallel Advisors LLC’s holdings in U.S. Bancorp were worth $966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at approximately $1,018,000. M&T Bank Corp boosted its holdings in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of U.S. Bancorp by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after acquiring an additional 38,802 shares in the last quarter. Finally, Keystone Financial Planning Inc. boosted its holdings in shares of U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after acquiring an additional 16,552 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on USB shares. Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley dropped their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Piper Sandler upgraded 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 report on Monday, January 13th. Finally, Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $53.93.

U.S. Bancorp Price Performance

USB opened at $42.64 on Thursday. 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 12 month low of $37.81 and a 12 month high of $53.98. The company has a fifty day simple moving average of $46.52 and a 200 day simple moving average of $47.69. The stock has a market cap of $66.44 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating 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 business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were 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 directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,812 shares of company stock valued at $10,385,665. Company insiders own 0.23% of the company’s stock.

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.