KBC Group NV Trims Stock Position in U.S. Bancorp (NYSE:USB)

KBC Group NV lessened its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 8.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 214,494 shares of the financial services provider's stock after selling 18,788 shares during the period. KBC Group NV's holdings in U.S. Bancorp were worth $9,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Covestor Ltd grew its position in shares of U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after purchasing an additional 214 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in U.S. Bancorp by 2.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock worth $495,000 after purchasing an additional 231 shares during the period. CoreCap Advisors LLC boosted its stake in U.S. Bancorp by 36.6% in the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after purchasing an additional 242 shares during the period. Gotham Asset Management LLC grew its holdings in U.S. Bancorp by 0.9% during the 4th quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider's stock valued at $1,564,000 after buying an additional 281 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of U.S. Bancorp by 0.8% during the first quarter. Investors Research Corp now owns 35,051 shares of the financial services provider's stock valued at $1,480,000 after buying an additional 283 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on USB shares. Piper Sandler dropped their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Bank of America dropped their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Truist Financial reduced their target price on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Raymond James Financial restated an "outperform" rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $50.93.

Insider Buying and Selling

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 acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Up 0.5%

NYSE:USB traded up $0.24 during mid-day trading on Thursday, hitting $47.73. 7,036,266 shares of the stock traded hands, compared to its average volume of 9,331,398. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market capitalization of $74.36 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.79 and a beta of 0.99. The firm's 50 day moving average is $43.39 and its two-hundred day moving average is $44.45.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Monday, June 30th. U.S. Bancorp's payout ratio is currently 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.