Deutsche Bank AG Sells 293,971 Shares of U.S. Bancorp $USB

Key Points

• Deutsche Bank AG cut its stake in U.S. Bancorp by 5.6% in the fourth quarter, selling 293,971 shares and leaving it with about 4.99 million shares valued at $266.3 million.
• Several company insiders also sold shares recently, including EVP Venkatachari Dilip and insider Jodi L. Richard, while institutional investors still hold 77.6% of the stock.
• U.S. Bancorp reported stronger-than-expected quarterly results, with EPS of $1.18 beating estimates and revenue of $7.32 billion topping forecasts; analysts currently rate the stock Moderate Buy with an average target price of $61.20.

Deutsche Bank AG reduced its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,991,367 shares of the financial services provider's stock after selling 293,971 shares during the quarter. Deutsche Bank AG owned 0.32% of U.S. Bancorp worth $266,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of USB. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth $25,000. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $25,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth $28,000. Binnacle Investments Inc lifted its position in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider's stock worth $30,000 after buying an additional 273 shares during the last quarter. Finally, Westfuller Advisors LLC lifted its position in shares of U.S. Bancorp by 54.7% during the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider's stock worth $33,000 after buying an additional 215 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company's stock, valued at $11,813,307. This trade 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 company insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $56.86 on Thursday. The business has a 50 day moving average of $55.01 and a 200-day moving average of $54.43. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $88.20 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm's revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada upped their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Truist Financial dropped their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, April 17th. Finally, Piper Sandler restated a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $61.20.

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.

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