Los Angeles Capital Management LLC Sells 126,862 Shares of U.S. Bancorp (NYSE:USB)

Los Angeles Capital Management LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,873,719 shares of the financial services provider's stock after selling 126,862 shares during the period. Los Angeles Capital Management LLC owned approximately 0.25% of U.S. Bancorp worth $163,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of USB. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after purchasing an additional 1,079,056 shares during the period. FMR LLC raised its position in U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Geode Capital Management LLC lifted its stake in shares of U.S. Bancorp by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock valued at $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Northern Trust Corp lifted its stake in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after purchasing an additional 1,670,305 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of 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 worth $802,947,000 after buying an additional 5,449,949 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

USB has been the topic of several research analyst reports. Oppenheimer boosted their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday. DA Davidson reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Evercore ISI increased their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a report on Wednesday, June 4th. Cowen assumed coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Piper Sandler lowered their price objective on 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average price target of $52.36.

U.S. Bancorp Price Performance

Shares of USB opened at $45.72 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock's 50 day moving average is $44.82 and its two-hundred day moving average is $44.27. The firm has a market capitalization of $71.23 billion, a PE ratio of 10.94, a P/E/G ratio of 1.75 and a beta of 0.99. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is currently 49.50%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director owned 15,000 shares of the company's stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Company 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.

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