Clearbridge Investments LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Clearbridge Investments LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,383,454 shares of the financial services provider’s stock after selling 1,059,638 shares during the period. Clearbridge Investments LLC owned approximately 0.41% of U.S. Bancorp worth $305,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of USB. International Assets Investment Management LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $1,018,000. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 0.8% in 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 acquiring an additional 1,079,056 shares during the period. M&T Bank Corp raised its stake in 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 during the last quarter. D.A. Davidson & CO. lifted its position in U.S. Bancorp by 11.3% during 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 during the period. Finally, Keystone Financial Planning Inc. grew its stake in U.S. Bancorp by 29.5% during the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $42.21 on Friday. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a 50-day simple moving average of $45.74 and a 200-day simple moving average of $47.57.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.74%. U.S. Bancorp’s payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on USB shares. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Truist Financial initiated coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Compass Point increased 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. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.21.

Insider Activity

In related news, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares in the company, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The transaction 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 value of $3,114,246.32. Following the transaction, the insider now 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. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last 90 days. 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.