Aristotle Capital Management LLC Cuts Position in U.S. Bancorp (NYSE:USB)

Aristotle Capital Management LLC cut its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,853,799 shares of the financial services provider's stock after selling 329,310 shares during the period. U.S. Bancorp comprises approximately 2.1% of Aristotle Capital Management LLC's holdings, making the stock its 15th largest position. Aristotle Capital Management LLC owned approximately 1.46% of U.S. Bancorp worth $1,093,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock valued at $6,640,569,000 after purchasing an additional 1,079,056 shares during the last quarter. FMR LLC grew its position in shares of U.S. Bancorp by 5.0% during the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the period. Geode Capital Management LLC lifted its position in U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares in the last quarter. Finally, Amundi increased its position in U.S. Bancorp by 7.4% in the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after buying an additional 1,341,407 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on USB shares. Morgan Stanley cut their price target on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Piper Sandler decreased their price target on shares of 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. DA Davidson reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $50.48.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now owns 15,000 shares of the company's stock, valued at approximately $559,800. This represents a 50.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Up 2.1 %

Shares of USB stock traded up $0.85 on Thursday, hitting $42.15. The stock had a trading volume of 3,465,361 shares, compared to its average volume of 9,072,233. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The business has a 50 day moving average price of $40.84 and a 200 day moving average price of $46.23. The company has a market cap of $65.67 billion, a PE ratio of 11.12, a P/E/G ratio of 1.73 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate 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 business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's payout ratio is 49.50%.

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.