Aspen Capital Management LLC Sells 20,927 Shares of U.S. Bancorp $USB

Key Points

• Aspen Capital Management cut its stake in U.S. Bancorp by 8.9%, selling 20,927 shares and now holds 215,140 shares valued at $11.48 million, making USB 2.8% of Aspen's portfolio and its ninth-largest position.
• Insider selling has been notable recently: Jodi L. Richard sold 40,000 shares at $57 (a 16.18% reduction) and Mark G. Runkel sold 32,195 shares at $60.65 (a 24.78% reduction).
• U.S. Bancorp beat quarterly expectations with $1.18 EPS, declared a $0.52 quarterly dividend (annualized yield ~3.7%), and holds a MarketBeat consensus of "Moderate Buy" with an average price target of $61.18.

Aspen Capital Management LLC lowered its stake in U.S. Bancorp (NYSE:USB - Free Report) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,140 shares of the financial services provider's stock after selling 20,927 shares during the period. U.S. Bancorp comprises 2.8% of Aspen Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Aspen Capital Management LLC's holdings in U.S. Bancorp were worth $11,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of USB. Gilbert & Cook Inc. increased its holdings in shares of U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock valued at $832,000 after acquiring an additional 184 shares during the last quarter. Genesis Private Wealth LLC increased its holdings in shares of U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after acquiring an additional 187 shares during the last quarter. Lantz Financial LLC increased its holdings in shares of U.S. Bancorp by 0.4% in the 4th quarter. Lantz Financial LLC now owns 49,360 shares of the financial services provider's stock valued at $2,634,000 after acquiring an additional 199 shares during the last quarter. Park National Corp OH increased its holdings in shares of U.S. Bancorp by 0.7% in the 4th quarter. Park National Corp OH now owns 27,364 shares of the financial services provider's stock valued at $1,460,000 after acquiring an additional 200 shares during the last quarter. Finally, Romano Brothers AND Company increased its holdings in shares of U.S. Bancorp by 2.4% in the 4th quarter. Romano Brothers AND Company now owns 9,156 shares of the financial services provider's stock valued at $489,000 after acquiring an additional 211 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark G. Runkel sold 32,195 shares of the firm's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

U.S. Bancorp Trading Up 0.1%

NYSE:USB opened at $55.62 on Monday. The stock's 50 day moving average price is $54.25 and its 200 day moving average price is $52.68. The company has a market capitalization of $86.34 billion, a PE ratio of 11.66, a P/E/G ratio of 1.00 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52-week low of $39.28 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. On average, research analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 43.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on USB shares. Oppenheimer increased their price objective on U.S. Bancorp from $71.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Barclays increased their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, April 17th. JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, April 7th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Finally, Argus increased their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $61.18.

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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