U.S. Bancorp (NYSE:USB) Position Reduced by SouthState Corp

SouthState Corp lowered its stake in U.S. Bancorp (NYSE:USB) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 35,715 shares of the financial services provider’s stock after selling 527 shares during the period. SouthState Corp’s holdings in U.S. Bancorp were worth $1,546,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CGC Financial Services LLC bought a new stake in U.S. Bancorp in the fourth quarter valued at about $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp in the fourth quarter worth $27,000. Legacy Financial Group LLC bought a new stake in U.S. Bancorp during the third quarter valued at $30,000. Finally, Naples Money Management LLC acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.45 during trading hours on Friday, reaching $41.42. 5,091,153 shares of the company’s stock were exchanged, compared to its average volume of 8,569,601. The company has a market capitalization of $64.53 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The business’s 50-day simple moving average is $42.32 and its two-hundred day simple moving average is $40.35. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. DA Davidson dropped their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Evercore ISI upped their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. dropped their price objective on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer reduced their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Finally, Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $49.00 in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.02.

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.