FineMark National Bank & Trust Lowers Stake in U.S. Bancorp (NYSE:USB)

FineMark National Bank & Trust cut its stake in U.S. Bancorp (NYSE:USB) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,470 shares of the financial services provider’s stock after selling 1,880 shares during the quarter. FineMark National Bank & Trust’s holdings in U.S. Bancorp were worth $2,701,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Winch Advisory Services LLC grew its stake in U.S. Bancorp by 1,088.9% in 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. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. FPC Investment Advisory Inc. purchased a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates raised its stake in shares of U.S. Bancorp by 70.8% during the 4th 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. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at approximately $30,000. 77.60% of the stock is owned by institutional investors.

Insider Activity

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 completion of the sale, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % 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 over the last three months. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent analyst reports. Piper Sandler raised U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a research note on Thursday, December 19th. Oppenheimer boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup decreased their price objective on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday. Finally, Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.48.

U.S. Bancorp Price Performance

NYSE:USB opened at $43.70 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average price of $46.11 and a 200-day moving average price of $47.63. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market cap of $68.09 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.58%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

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.