Morningstar Investment Services LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Morningstar Investment Services LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,535 shares of the financial services provider's stock after selling 6,037 shares during the quarter. Morningstar Investment Services LLC's holdings in U.S. Bancorp were worth $318,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $27,000. REAP Financial Group LLC increased its position in shares of U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $31,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $32,000. Finally, YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after acquiring an additional 260 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $45.72 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $44.82 and a two-hundred day moving average of $44.27. The company has a market cap of $71.23 billion, a P/E ratio of 10.94, a PEG ratio of 1.75 and a beta of 0.99. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.37%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cowen assumed coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Truist Financial lifted their price target on U.S. Bancorp from $48.00 to $50.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. DA Davidson decreased their price target on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group lifted their price target on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Barclays decreased their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.36.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp 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 approximately $559,800. This represents a 50.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company's stock.

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.