Exchange Capital Management Inc. Reduces Position in U.S. Bancorp (NYSE:USB)

Exchange Capital Management Inc. trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,804 shares of the financial services provider’s stock after selling 1,798 shares during the quarter. Exchange Capital Management Inc.’s holdings in U.S. Bancorp were worth $3,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Natixis Advisors LLC grew its position in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the period. International Assets Investment Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $1,018,000. M&T Bank Corp increased its position in 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 buying an additional 22,803 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of 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 acquiring an additional 38,802 shares in the last quarter. Finally, Hilltop Holdings Inc. raised its stake in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp 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 sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % 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 Jodi L. Richard sold 30,000 shares of U.S. Bancorp 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 of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 0.7 %

Shares of NYSE:USB opened at $45.57 on Tuesday. 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 company has a market cap of $71.08 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a 50 day simple moving average of $48.08 and a 200 day simple moving average of $47.76.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $7 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 4.38 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. Stockholders 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 dividend yield of 4.39%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analyst Upgrades and Downgrades

Several research firms have commented on USB. Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Evercore ISI upped their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Morgan Stanley cut their price objective on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Company 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.