Ironwood Investment Counsel LLC Sells 4,213 Shares of U.S. Bancorp (NYSE:USB)

Ironwood Investment Counsel LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,190 shares of the financial services provider’s stock after selling 4,213 shares during the quarter. U.S. Bancorp comprises 1.2% of Ironwood Investment Counsel LLC’s holdings, making the stock its 18th largest position. Ironwood Investment Counsel LLC’s holdings in U.S. Bancorp were worth $6,992,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Natixis Advisors LLC increased its position in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the period. International Assets Investment Management LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at $1,018,000. M&T Bank Corp increased its position in shares of U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after purchasing an additional 22,803 shares in the last quarter. D.A. Davidson & CO. raised its stake in U.S. Bancorp by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock valued at $18,212,000 after buying an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. boosted its holdings in U.S. Bancorp by 29.5% in the fourth quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock worth $3,473,000 after acquiring an additional 16,552 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on USB shares. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Barclays increased their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Compass Point boosted their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Down 2.0 %

Shares of NYSE:USB opened at $40.87 on Friday. The company has a market capitalization of $63.67 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.73 and a beta of 1.02. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The business has a 50-day moving average price of $47.03 and a 200 day moving average price of $47.79. 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 (NYSE:USB) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $7.01 billion for 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 business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.89%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were 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 in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, 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. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.

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.