Pacer Advisors Inc. reduced its position in U.S. Bancorp (NYSE:USB – Free Report) by 49.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,848 shares of the financial services provider’s stock after selling 75,420 shares during the quarter. Pacer Advisors Inc.’s holdings in U.S. Bancorp were worth $4,049,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Inceptionr LLC grew its stake in shares of U.S. Bancorp by 424.4% in the 4th quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after purchasing an additional 22,348 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after buying an additional 93,025 shares during the period. Keudell Morrison Wealth Management bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $2,856,000. Cardinal Capital Management Inc. boosted its stake in U.S. Bancorp by 17.3% in the 4th quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after buying an additional 42,095 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in U.S. Bancorp by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,769,589 shares of the financial services provider’s stock valued at $94,425,000 after buying an additional 49,733 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.
U.S. Bancorp Trading Down 0.6%
USB stock opened at $63.81 on Friday. The business has a fifty day moving average price of $60.55 and a 200 day moving average price of $57.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a fifty-two week low of $43.96 and a fifty-two week high of $65.02. The stock has a market capitalization of $98.97 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 1.05 and a beta of 0.96.
U.S. Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s payout ratio is currently 41.52%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Truist Financial increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. Stephens increased their target price on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.
View Our Latest Research Report on U.S. Bancorp
Insider Transactions at U.S. Bancorp
In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.
U.S. Bancorp Company Profile
U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.
Headquartered in Minneapolis, Minnesota, U.S.
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