Welch & Forbes LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Welch & Forbes LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,508 shares of the financial services provider’s stock after selling 985 shares during the period. Welch & Forbes LLC’s holdings in U.S. Bancorp were worth $1,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

U.S. Bancorp Stock Performance

Shares of USB opened at $44.77 on Friday. The stock has a 50-day simple moving average of $47.54 and a 200-day simple moving average of $47.87. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $69.84 billion, a PE ratio of 11.81, a PEG 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.

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. 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, EVP James L. Chosy sold 21,451 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This trade represents a 9.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 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.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Monday, January 13th. Truist Financial started coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target for the company. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, 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. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

About U.S. Bancorp

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.