Grove Bank & Trust Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Grove Bank & Trust decreased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 44.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,994 shares of the financial services provider's stock after selling 14,687 shares during the quarter. Grove Bank & Trust's holdings in U.S. Bancorp were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of USB. Norges Bank acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $777,524,000. Invesco Ltd. increased its holdings in U.S. Bancorp by 48.1% in the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the period. Marshall Wace LLP raised its position in U.S. Bancorp by 414.1% during the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth about $184,733,000. Finally, FMR LLC grew its position in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on USB shares. TD Cowen started coverage on U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Cowen initiated coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. DA Davidson dropped their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Truist Financial decreased their price objective 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, Bank of America dropped their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of "Moderate Buy" and a consensus price target of $50.72.

U.S. Bancorp Stock Up 0.2%

U.S. Bancorp stock traded up $0.07 during midday trading on Friday, reaching $43.34. The stock had a trading volume of 21,278,481 shares, compared to its average volume of 10,532,517. The company has a fifty day moving average price of $42.14 and a two-hundred day moving average price of $44.84. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $67.53 billion, a P/E ratio of 10.73, a PEG ratio of 1.62 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.92 billion. During the same quarter last year, the firm posted $0.78 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp Profile

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.