Nuveen Asset Management LLC Sells 58,203 Shares of U.S. Bancorp (NYSE:USB)

Nuveen Asset Management LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,252,234 shares of the financial services provider’s stock after selling 58,203 shares during the period. Nuveen Asset Management LLC owned about 0.21% of U.S. Bancorp worth $155,554,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in U.S. Bancorp in the fourth quarter worth $777,524,000. Invesco Ltd. boosted its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Marshall Wace LLP grew its position in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after buying an additional 4,663,518 shares during the period. Raymond James Financial Inc. purchased a new stake in U.S. Bancorp during the fourth quarter worth about $184,733,000. Finally, FMR LLC raised its position in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wolfe Research raised shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. Truist Financial reduced their price objective on U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wells Fargo & Company cut their price target on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Piper Sandler lowered their price objective on U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.89.

U.S. Bancorp Stock Up 0.6%

Shares of U.S. Bancorp stock opened at $44.51 on Friday. The company has a 50-day simple moving average of $40.72 and a two-hundred day simple moving average of $46.04. The stock has a market capitalization of $69.35 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the business earned $0.78 EPS. On average, analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s payout ratio is currently 49.50%.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

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.