Lockheed Martin Investment Management Co. Has $5.34 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Lockheed Martin Investment Management reduced its U.S. Bancorp stake by 32.3% in the fourth quarter, selling 47,690 shares and leaving it with 100,000 shares worth about $5.34 million.
• U.S. Bancorp reported strong quarterly results, with EPS of $1.18 beating estimates and revenue of $7.32 billion topping forecasts; revenue also rose 4.7% year over year.
• The bank continued to return cash to shareholders with a quarterly dividend of $0.52 per share, implying an annualized yield of about 3.9%.

Lockheed Martin Investment Management Co. cut its stake in U.S. Bancorp (NYSE:USB - Free Report) by 32.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the financial services provider's stock after selling 47,690 shares during the period. Lockheed Martin Investment Management Co.'s holdings in U.S. Bancorp were worth $5,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after buying an additional 36,863 shares during the last quarter. Empowered Funds LLC increased its holdings in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock worth $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC increased its holdings in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock worth $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $425,000. Finally, Nebula Research & Development LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $701,000. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $53.15 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $53.91 and a 200 day moving average of $53.39. U.S. Bancorp has a 52-week low of $42.21 and a 52-week high of $61.19. The firm has a market capitalization of $82.50 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.96 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.32 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company's revenue was up 4.7% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued 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 dividend yield of 3.9%. U.S. Bancorp's dividend payout ratio is 43.61%.

Insider Buying and Selling

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on USB shares. Evercore upped their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Thursday, February 5th. Oppenheimer upped their price target on U.S. Bancorp from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Jefferies Financial Group reaffirmed a "hold" rating and set a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. JPMorgan Chase & Co. dropped their price target on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a research note on Thursday, April 30th. Finally, Piper Sandler reaffirmed a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.20.

U.S. Bancorp Company 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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