Blair William & Co. IL Decreases Stock Position in U.S. Bancorp (NYSE:USB)

Key Points

• Blair William & Co. IL reduced its stake in U.S. Bancorp by 8.6% in Q1, selling 14,500 shares and holding 155,075 shares worth approximately $6.55 million.
• Hedge funds have shown mixed activity, with FIL Ltd increasing its position by 42% in Q4 while other funds made various adjustments to their stakes.
• U.S. Bancorp's recent earnings report showed an EPS of $1.11, exceeding estimates, alongside the declaration of a $0.50 quarterly dividend, representing a yield of 4.5%.

Blair William & Co. IL reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,075 shares of the financial services provider's stock after selling 14,500 shares during the period. Blair William & Co. IL's holdings in U.S. Bancorp were worth $6,547,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FIL Ltd raised its holdings in U.S. Bancorp by 42.0% in the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock worth $1,381,000 after acquiring an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. raised its holdings in U.S. Bancorp by 31.6% in the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock worth $13,724,000 after acquiring an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC grew its position in U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock worth $286,000 after purchasing an additional 649 shares during the period. Becker Capital Management Inc. grew its position in U.S. Bancorp by 1.5% in the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock worth $27,069,000 after purchasing an additional 8,204 shares during the period. Finally, United Community Bank grew its position in U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after purchasing an additional 8,796 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Piper Sandler cut their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Barclays cut their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $52.55.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Up 0.4%

Shares of NYSE USB opened at $44.58 on Wednesday. The firm's 50-day moving average price is $45.22 and its 200-day moving average price is $44.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $69.46 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.39 and a beta of 1.01. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The firm had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's dividend payout ratio is presently 47.85%.

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.

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