Cantor Fitzgerald Investment Advisors L.P. Sells 51,140 Shares of U.S. Bancorp $USB

Key Points

• Cantor Fitzgerald Investment Advisors trimmed its stake in U.S. Bancorp by 14.3%, selling 51,140 shares and leaving 306,664 shares worth about $16.36 million (≈1.2% of the fund, its 22nd largest holding).
• U.S. Bancorp posted a quarterly beat with $1.26 EPS versus $1.19 expected and $7.92B revenue, and announced a quarterly dividend of $0.52 (annualized $2.08, ~3.7% yield; ex-dividend March 31, payable April 15).
• Insider Mark G. Runkel sold 32,195 shares (a 24.8% reduction in his holding), while institutional investors own about 77.6% of USB; analysts' consensus is a "Moderate Buy" with an average target of $60.26.

Cantor Fitzgerald Investment Advisors L.P. decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,664 shares of the financial services provider's stock after selling 51,140 shares during the period. U.S. Bancorp makes up about 1.2% of Cantor Fitzgerald Investment Advisors L.P.'s investment portfolio, making the stock its 22nd largest position. Cantor Fitzgerald Investment Advisors L.P.'s holdings in U.S. Bancorp were worth $16,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Howard Capital Management Inc. increased its position in U.S. Bancorp by 9.6% during the fourth quarter. Howard Capital Management Inc. now owns 10,457 shares of the financial services provider's stock valued at $558,000 after acquiring an additional 914 shares during the last quarter. Ritholtz Wealth Management increased its position in U.S. Bancorp by 29.3% during the fourth quarter. Ritholtz Wealth Management now owns 155,491 shares of the financial services provider's stock valued at $8,297,000 after acquiring an additional 35,240 shares during the last quarter. Diversify Advisory Services LLC increased its position in U.S. Bancorp by 17.4% during the fourth quarter. Diversify Advisory Services LLC now owns 6,270 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 931 shares during the last quarter. Carnegie Investment Counsel increased its position in U.S. Bancorp by 15.9% during the fourth quarter. Carnegie Investment Counsel now owns 85,761 shares of the financial services provider's stock valued at $4,576,000 after acquiring an additional 11,735 shares during the last quarter. Finally, City Holding Co. increased its position in U.S. Bancorp by 13.4% during the fourth quarter. City Holding Co. now owns 4,298 shares of the financial services provider's stock valued at $229,000 after acquiring an additional 508 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 1.2%

Shares of USB opened at $55.66 on Friday. The firm has a market capitalization of $86.39 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.03 and a beta of 1.01. U.S. Bancorp has a 12-month low of $36.48 and a 12-month high of $61.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average price of $54.78 and a 200-day moving average price of $52.06.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, March 31st. U.S. Bancorp's payout ratio is presently 45.02%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of U.S. Bancorp in a research report on Thursday, March 26th. They set a "hold" rating and a $55.00 price objective on the stock. DA Davidson boosted their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Finally, UBS Group reissued a "neutral" rating and set a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $60.26.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by 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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