Carlson Capital Management Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

Carlson Capital Management lowered its position in U.S. Bancorp (NYSE:USB) by 9.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,335 shares of the financial services provider’s stock after selling 1,349 shares during the period. Carlson Capital Management’s holdings in U.S. Bancorp were worth $590,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp in the fourth quarter valued at $26,000. Winch Advisory Services LLC increased its position in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp during the 4th quarter worth about $28,000. Global Wealth Strategies & Associates increased its position in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $42.19 on Tuesday. The firm has a market capitalization of $65.72 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The business’s 50-day simple moving average is $46.76 and its 200-day simple moving average is $47.76.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared 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. This represents a $2.00 annualized dividend and a yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred 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 directly 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. In the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on USB shares. Raymond James upgraded 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. Compass Point lifted their price objective 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. Oppenheimer lifted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $65.00 in a research report on Monday, November 25th. Finally, Truist Financial initiated coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $53.98.

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.