Aristotle Capital Management LLC Sells 1,059,380 Shares of U.S. Bancorp $USB

Key Points

• Aristotle Capital Management LLC trimmed its U.S. Bancorp stake by 4.9% in Q3, selling 1,059,380 shares and retaining 20,759,118 shares (about 1.34% of USB) valued at roughly $1.003 billion, making USB its 16th largest holding.
• Insider Mark G. Runkel sold 32,195 shares on Feb. 6 at an average price of $60.65 for about $1.95 million, reducing his ownership by 24.78%; company insiders now hold only 0.23% of the stock.
• U.S. Bancorp declared a quarterly dividend of $0.52 (annualized $2.08) with an ex-dividend date of March 31 and a yield of ~4.1%; analysts' consensus rating is "Moderate Buy" with an average target of $60.02.

Aristotle Capital Management LLC reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,759,118 shares of the financial services provider's stock after selling 1,059,380 shares during the period. U.S. Bancorp comprises approximately 1.9% of Aristotle Capital Management LLC's holdings, making the stock its 16th largest position. Aristotle Capital Management LLC owned approximately 1.34% of U.S. Bancorp worth $1,003,292,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guerra Advisors Inc bought a new position in U.S. Bancorp during the third quarter valued at approximately $25,000. Financial Life Planners bought a new stake in U.S. Bancorp in the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in U.S. Bancorp during the 3rd quarter valued at $26,000. Hillsdale Investment Management Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $27,000. Finally, Pineridge Advisors LLC lifted its holdings in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider's stock valued at $29,000 after buying an additional 522 shares during the period. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several research analyst reports. Truist Financial raised U.S. Bancorp from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $61.00 to $66.00 in a report on Thursday, February 26th. Keefe, Bruyette & Woods increased their target price on U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a report on Wednesday, January 21st. Wolfe Research downgraded U.S. Bancorp from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of U.S. Bancorp from $55.50 to $62.00 and gave the company an "underweight" rating in a research report on Monday, February 9th. Finally, UBS Group reiterated a "neutral" rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.02.

Insider Transactions at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $51.00 on Friday. The stock has a market cap of $79.17 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $61.19. The firm has a fifty day moving average price of $55.86 and a 200-day moving average price of $51.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company had revenue of $7.92 billion for the quarter, compared to analysts' expectations of $7.31 billion. During the same quarter in the previous year, the company earned $1.07 EPS. U.S. Bancorp's revenue for the quarter was up 5.1% on a year-over-year basis. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is presently 45.02%.

U.S. Bancorp 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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.