Comerica Bank Sells 34,589 Shares of U.S. Bancorp $USB

Key Points

• Comerica Bank reduced its stake in U.S. Bancorp by 8.6%, selling 34,589 shares and retaining 365,328 shares valued at about $19.49 million; insiders also sold meaningful positions (e.g., Jodi Richard 40,000 shares, Mark Runkel 32,195) while institutional investors hold 77.6% of the stock.
• Wall Street’s consensus is a Moderate Buy with an average price target of $61.18; U.S. Bancorp recently beat quarterly EPS estimates ($1.18 vs. $1.14) and pays a $0.52 quarterly dividend (around a 3.7% yield).

Comerica Bank lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,328 shares of the financial services provider's stock after selling 34,589 shares during the period. Comerica Bank's holdings in U.S. Bancorp were worth $19,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Guerra Advisors Inc bought a new stake in U.S. Bancorp in the third quarter worth $25,000. Financial Life Planners bought a new stake in U.S. Bancorp in the third quarter worth $25,000. Clayton Financial Group LLC bought a new stake in U.S. Bancorp in the fourth quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in U.S. Bancorp in the third quarter worth $26,000. Finally, JPL Wealth Management LLC bought a new stake in U.S. Bancorp in the third quarter worth $28,000. Institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 21st. DA Davidson restated a "buy" rating and issued a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Jefferies Financial Group restated a "hold" rating and issued a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Truist Financial reduced their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp has an average rating of "Moderate Buy" and an average price target of $61.18.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were 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. The trade was a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

U.S. Bancorp Trading Up 0.8%

USB stock opened at $56.03 on Tuesday. 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 twelve month low of $39.28 and a twelve month high of $61.19. The stock has a market capitalization of $86.97 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 1.00 and a beta of 1.01. The firm's fifty day simple moving average is $54.21 and its two-hundred day simple moving average is $52.74.

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

U.S. Bancorp Announces Dividend

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

U.S. Bancorp 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.