NFJ Investment Group LLC Reduces Holdings in U.S. Bancorp $USB

Key Points

• NFJ Investment Group nearly exited its U.S. Bancorp position in the fourth quarter, cutting its stake by 99.9% and leaving just 585 shares worth about $31,000.
• Insiders also sold stock: EVP Venkatachari Dilip sold 34,522 shares and insider Jodi L. Richard sold 40,000 shares in recent transactions.
• U.S. Bancorp reported solid quarterly results, beating EPS and revenue estimates, while analysts currently have a consensus rating of “Moderate Buy” with an average price target of $61.20.

NFJ Investment Group LLC lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 99.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 585 shares of the financial services provider's stock after selling 607,952 shares during the period. NFJ Investment Group LLC's holdings in U.S. Bancorp were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in USB. Brighton Jones LLC raised its stake in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC raised its stake in shares of U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider's stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC raised its stake in shares of U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider's stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $425,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $701,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm'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 completion of the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on USB. Jefferies Financial Group reiterated a "hold" rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Thursday, April 16th. Piper Sandler reiterated a "buy" rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Royal Bank Of Canada lifted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Finally, Truist Financial decreased their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating for the company in a research report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

U.S. Bancorp Stock Down 0.1%

USB stock opened at $58.90 on Monday. U.S. Bancorp has a twelve month low of $42.55 and a twelve month high of $61.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $91.37 billion, a P/E ratio of 12.35, a PEG ratio of 1.07 and a beta of 0.97. The firm has a 50 day simple moving average of $55.25 and a 200-day simple moving average of $54.58.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion during the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the company earned $1.03 earnings per share. The business's quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

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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