Free Trial

U.S. Bancorp (NYSE:USB) Shares Sold by Charles Schwab Investment Management Inc.

U.S. Bancorp logo with Finance background

Key Points

  • Charles Schwab Investment Management Inc. dramatically reduced its stake by 80% in U.S. Bancorp during the first quarter, now holding $420.41 million worth of shares.
  • U.S. Bancorp reported earnings per share of $1.11, exceeding analysts' expectations, though revenues were slightly below consensus estimates at $7.06 billion.
  • The company recently announced a quarterly dividend of $0.50 per share, reflecting a 4.5% dividend yield and a payout ratio of 47.85%.
  • Looking to Export and Analyze U.S. Bancorp Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Charles Schwab Investment Management Inc. cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 80.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,957,689 shares of the financial services provider's stock after selling 39,832,036 shares during the period. Charles Schwab Investment Management Inc. owned 0.64% of U.S. Bancorp worth $420,414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ASR Vermogensbeheer N.V. bought a new stake in U.S. Bancorp in the 1st quarter worth approximately $6,528,000. Citizens Financial Group Inc. RI grew its stake in shares of U.S. Bancorp by 7.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 62,179 shares of the financial services provider's stock worth $2,656,000 after buying an additional 4,384 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in shares of U.S. Bancorp by 4.1% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 28,847 shares of the financial services provider's stock worth $1,218,000 after buying an additional 1,131 shares in the last quarter. Exencial Wealth Advisors LLC grew its stake in shares of U.S. Bancorp by 9.1% in the 1st quarter. Exencial Wealth Advisors LLC now owns 20,558 shares of the financial services provider's stock worth $868,000 after buying an additional 1,720 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider's stock worth $5,962,742,000 after buying an additional 2,393,383 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and boosted their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial boosted their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.55.

Get Our Latest Stock Report on U.S. Bancorp

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Up 1.7%

U.S. Bancorp stock traded up $0.77 during trading on Friday, reaching $44.86. The stock had a trading volume of 6,066,952 shares, compared to its average volume of 11,320,853. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business has a 50 day moving average price of $45.27 and a 200 day moving average price of $43.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market cap of $69.89 billion, a PE ratio of 10.73, a P/E/G ratio of 1.41 and a beta of 1.01.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. The business 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 company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Should You Invest $1,000 in U.S. Bancorp Right Now?

Before you consider U.S. Bancorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and U.S. Bancorp wasn't on the list.

While U.S. Bancorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Energy Stocks to Buy and Hold Forever Cover

With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines