U.S. Bancorp (NYSE:USB) Shares Sold by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. cut its stake in U.S. Bancorp (NYSE:USB) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,980 shares of the financial services provider’s stock after selling 313 shares during the quarter. New Covenant Trust Company N.A.’s holdings in U.S. Bancorp were worth $337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Proficio Capital Partners LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $5,986,000. M&T Bank Corp lifted its stake in shares of U.S. Bancorp by 36.9% in the 4th quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock valued at $55,427,000 after purchasing an additional 312,504 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Souders Financial Advisors acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $210,000. Finally, Live Oak Investment Partners lifted its stake in U.S. Bancorp by 27.1% during the 4th quarter. Live Oak Investment Partners now owns 14,262 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 3,044 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on USB shares. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on 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. Wells Fargo & Company increased their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Stock Down 3.6 %

U.S. Bancorp stock opened at $44.56 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average of $47.79 and a two-hundred day moving average of $47.91. The stock has a market capitalization of $69.51 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 1.73 and a beta of 1.04. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted 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 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the firm earned $0.99 EPS. The company’s quarterly 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is currently 52.77%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was 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 owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last ninety 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.