U.S. Bancorp (NYSE:USB) Shares Sold by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. decreased its stake in U.S. Bancorp (NYSE:USB) by 86.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,419 shares of the financial services provider’s stock after selling 219,548 shares during the period. Laffer Tengler Investments Inc.’s holdings in U.S. Bancorp were worth $1,646,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after buying an additional 819,805 shares during the last quarter. FMR LLC lifted its position in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 5.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Geode Capital Management LLC grew its position in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of U.S. Bancorp by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock valued at $513,796,000 after purchasing an additional 436,252 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on USB. Citigroup upgraded 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. Morgan Stanley reduced their price target on 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. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Monday, January 13th. Finally, Oppenheimer increased their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $44.56 on Wednesday. The stock’s fifty day simple moving average is $47.79 and its 200 day simple moving average is $47.91. The stock has a market capitalization of $69.51 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.73 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) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business posted $0.99 EPS. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction dated 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last 90 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 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.