Motco Cuts Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• Motco reduced its stake in U.S. Bancorp by 11.9%, owning 91,240 shares worth approximately $3.85 million after selling 12,266 shares.
• U.S. Bancorp reported $1.11 EPS for the latest quarter, exceeding estimates, and had a net margin of 16.30% with a revenue of $7.06 billion.
• Recently, several analysts have updated their ratings on U.S. Bancorp, with the consensus rating being a Moderate Buy and an average price target of $52.50.

Motco trimmed its position in U.S. Bancorp (NYSE:USB - Free Report) by 11.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 91,240 shares of the financial services provider's stock after selling 12,266 shares during the period. Motco's holdings in U.S. Bancorp were worth $3,852,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Covestor Ltd increased its holdings in U.S. Bancorp by 12.3% in the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 214 shares during the period. TrinityPoint Wealth LLC grew 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 valued at $495,000 after buying an additional 231 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of U.S. Bancorp by 36.6% during the 4th quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 242 shares in the last quarter. Bestgate Wealth Advisors LLC grew its position in U.S. Bancorp by 3.3% in the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after acquiring an additional 253 shares in the last quarter. Finally, YANKCOM Partnership lifted its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.47 on Wednesday, hitting $46.56. 3,469,018 shares of the stock traded hands, compared to its average volume of 10,861,376. The business's fifty day moving average is $45.05 and its two-hundred day moving average is $44.16. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The firm has a market capitalization of $72.53 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81.

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

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. U.S. Bancorp's dividend payout ratio is currently 47.85%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on USB shares. Piper Sandler cut their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Evercore ISI raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Wells Fargo & Company dropped their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. TD Cowen initiated coverage on shares of U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Truist Financial boosted their price target on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

Insider Activity at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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.