Financial Advocates Investment Management Decreases Position in U.S. Bancorp (NYSE:USB)

Financial Advocates Investment Management decreased its position in U.S. Bancorp (NYSE:USB) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,475 shares of the financial services provider’s stock after selling 1,727 shares during the period. Financial Advocates Investment Management’s holdings in U.S. Bancorp were worth $1,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Natixis Advisors LLC grew its position in shares of U.S. Bancorp by 16.6% in the third 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 in the last quarter. International Assets Investment Management LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $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 valued at $38,704,000 after buying an additional 22,803 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of U.S. Bancorp by 184.3% in the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after buying an additional 45,560 shares in the last quarter. Finally, Keystone Financial Planning Inc. boosted its position in shares of 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 valued at $3,473,000 after acquiring an additional 16,552 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

USB opened at $47.69 on Friday. 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 stock’s 50 day simple moving average is $49.33 and its 200 day simple moving average is $47.42. The firm has a market cap of $74.40 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.77 and a beta of 1.04. 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 issued its earnings results 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 company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. As a group, analysts predict that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insider Activity

In other U.S. Bancorp news, 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 value of $3,114,246.32. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on USB shares. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Thursday, December 19th. Morgan Stanley decreased their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. 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. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Finally, Oppenheimer boosted their price objective 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 stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus 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.