Price T Rowe Associates Inc. MD Cuts Stake in U.S. Bancorp (NYSE:USB)

by · The Markets Daily

Price T Rowe Associates Inc. MD lessened its stake in U.S. Bancorp (NYSE:USB – Free Report) by 20.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,673,563 shares of the financial services provider’s stock after selling 3,470,615 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in U.S. Bancorp were worth $654,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of USB. Capital Performance Advisors LLP raised its holdings in U.S. Bancorp by 2.6% in the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after buying an additional 210 shares during the last quarter. HCR Wealth Advisors increased its position in shares of U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares in the last quarter. Covestor Ltd raised its holdings in U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 214 shares during the last quarter. Priebe Wealth Holdings LLC lifted its position in U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 215 shares in the last quarter. Finally, Essex Savings Bank boosted its stake in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler lowered their price target on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Citigroup lowered their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada decreased their price objective on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and set a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.66.

View Our Latest Report on U.S. Bancorp

U.S. Bancorp Price Performance

NYSE USB opened at $40.04 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $62.38 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.73 and a beta of 0.91. The company’s 50 day moving average is $41.87 and its two-hundred day moving average is $46.62.

U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same period last year, the firm earned $0.78 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 49.50%.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB – Free Report).