GAM Holding AG Lowers Position in U.S. Bancorp (NYSE:USB)

GAM Holding AG cut its position in U.S. Bancorp (NYSE:USB - Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,722 shares of the financial services provider's stock after selling 6,790 shares during the quarter. GAM Holding AG's holdings in U.S. Bancorp were worth $4,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. J.Safra Asset Management Corp bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $26,000. FPC Investment Advisory Inc. acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $28,000. Picton Mahoney Asset Management bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. REAP Financial Group LLC grew its position in shares of U.S. Bancorp by 86.1% during the 4th quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after buying an additional 297 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $31,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.2%

Shares of USB traded up $0.07 during mid-day trading on Friday, hitting $43.34. 21,354,696 shares of the company's stock were exchanged, compared to its average volume of 9,171,085. The stock's 50-day moving average is $42.25 and its 200-day moving average is $44.73. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a market cap of $67.53 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 1.63 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. U.S. Bancorp's payout ratio is 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. DA Davidson cut their price target on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Truist Financial decreased their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Finally, Royal Bank Of Canada lowered their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.72.

About U.S. Bancorp

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.