Procyon Advisors LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Procyon Advisors LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,269 shares of the financial services provider’s stock after selling 587 shares during the quarter. Procyon Advisors LLC’s holdings in U.S. Bancorp were worth $969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Winch Advisory Services LLC lifted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares during the last quarter. Global Wealth Strategies & Associates grew its position in U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in U.S. Bancorp during the fourth quarter worth approximately $38,000. Finally, Kimelman & Baird LLC purchased a new stake in U.S. Bancorp during the second quarter valued at approximately $40,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley dropped their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $48.40 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average price is $50.22 and its 200-day moving average price is $46.72. The firm has a market cap of $75.50 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.47 and a beta of 1.05. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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 12.92% and a return on equity of 12.91%. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

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.