Bridges Investment Management Inc. Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

Bridges Investment Management Inc. reduced its stake in U.S. Bancorp (NYSE:USB) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,500,422 shares of the financial services provider’s stock after selling 3,216 shares during the period. Bridges Investment Management Inc.’s holdings in U.S. Bancorp were worth $71,765,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its position in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 201 shares during the last quarter. Capital Performance Advisors LLP boosted its position in shares of U.S. Bancorp by 2.6% during the fourth quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 210 shares in the last quarter. HCR Wealth Advisors boosted its holdings in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after acquiring an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC boosted its holdings in U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares in the last quarter. Finally, Essex Savings Bank lifted its holdings in shares of U.S. Bancorp by 1.8% during the fourth 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 in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.4 %

USB stock opened at $46.93 on Friday. The company has a market capitalization of $73.20 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company’s 50-day simple moving average is $47.91 and its 200 day simple moving average is $47.83.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. As a group, sell-side 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 Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were 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 of the company’s stock, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on USB. Barclays upped their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Oppenheimer increased their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Compass Point lifted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

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.