M&T Bank Corp Sells 626,385 Shares of U.S. Bancorp $USB

M&T Bank Corp cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 95.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,292 shares of the financial services provider's stock after selling 626,385 shares during the period. M&T Bank Corp's holdings in U.S. Bancorp were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $25,000. Guerra Advisors Inc bought a new position in U.S. Bancorp during the third quarter worth about $25,000. Financial Life Planners bought a new position in U.S. Bancorp during the third quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter worth about $26,000. Finally, JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter worth about $28,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on USB shares. Truist Financial cut their price target on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. UBS Group restated a "neutral" rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. Oppenheimer boosted their price target on U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley set a $64.00 price target on U.S. Bancorp in a report on Friday, April 17th. Finally, Argus boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.23.

U.S. Bancorp Stock Performance

USB opened at $56.11 on Thursday. U.S. Bancorp has a 52-week low of $39.28 and a 52-week high of $61.19. The firm has a market capitalization of $87.09 billion, a PE ratio of 11.76, a PEG ratio of 1.01 and a beta of 1.01. 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 business's 50-day simple moving average is $54.12 and its 200 day simple moving average is $52.84.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its 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 18.26% and a net margin of 18.01%.The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. U.S. Bancorp's revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is presently 43.61%.

About U.S. Bancorp

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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