Barclays PLC Sells 505,120 Shares of U.S. Bancorp $USB

Key Points

• Barclays PLC cut its U.S. Bancorp stake by 4.7% in the fourth quarter, selling 505,120 shares and leaving it with about 10.3 million shares valued at roughly $549.9 million.
• U.S. Bancorp reported better-than-expected quarterly results, posting EPS of $1.18 versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% from a year earlier.
• Wall Street sentiment remains generally positive, with analysts assigning a Moderate Buy consensus rating and an average price target of $61.20, while the stock recently traded near $58.90.

Barclays PLC reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,306,218 shares of the financial services provider's stock after selling 505,120 shares during the quarter. Barclays PLC owned approximately 0.66% of U.S. Bancorp worth $549,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Brighton Jones LLC raised its holdings in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares during the last quarter. Empowered Funds LLC raised its holdings in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after buying an additional 714 shares during the last quarter. Intech Investment Management LLC raised its holdings in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after buying an additional 6,252 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at $425,000. Finally, Nebula Research & Development LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at $701,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a report on Thursday, February 26th. DA Davidson reissued a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Truist Financial reduced their price objective on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a research report on Friday, April 17th. Jefferies Financial Group reissued a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

U.S. Bancorp Stock Up 2.2%

Shares of U.S. Bancorp stock opened at $58.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company's fifty day simple moving average is $55.25 and its two-hundred day simple moving average is $54.53. The company has a market cap of $91.37 billion, a P/E ratio of 12.35, a PEG ratio of 1.06 and a beta of 0.97. U.S. Bancorp has a 12-month low of $42.55 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share 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 net margin of 18.01% and a return on equity of 13.55%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. Research analysts anticipate that U.S. Bancorp will post 5.07 EPS for the current year.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate 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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