Carnegie Investment Counsel Sells 4,558 Shares of U.S. Bancorp (NYSE:USB)

Carnegie Investment Counsel lowered its position in shares of U.S. Bancorp (NYSE:USB) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,381 shares of the financial services provider’s stock after selling 4,558 shares during the quarter. Carnegie Investment Counsel’s holdings in U.S. Bancorp were worth $5,232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its holdings in U.S. Bancorp by 1.2% in the third quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the last quarter. FMR LLC increased its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after purchasing an additional 1,796,336 shares during the last quarter. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 1.8% in the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $48.40 on Friday. The stock has a 50 day moving average price of $50.22 and a 200 day moving average price of $46.72. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $75.50 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the firm posted $0.99 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 3.91 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio is 61.16%.

Analyst Ratings Changes

A number of equities research analysts recently commented on USB shares. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. 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. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Finally, Compass Point increased their price target on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

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.