Nisa Investment Advisors LLC Sells 28,351 Shares of U.S. Bancorp (NYSE:USB)

Nisa Investment Advisors LLC cut its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 394,550 shares of the financial services provider's stock after selling 28,351 shares during the period. Nisa Investment Advisors LLC's holdings in U.S. Bancorp were worth $16,855,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $27,000. 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 purchasing an additional 260 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $30,000. Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp during the first quarter worth $30,000. Finally, Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 5,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director directly owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their price target on U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reduced 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 report on Thursday, April 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Truist Financial increased their price objective on shares of U.S. Bancorp from $48.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Piper Sandler cut their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.70.

U.S. Bancorp Stock Down 0.8%

Shares of NYSE USB traded down $0.37 during trading hours on Friday, hitting $47.21. The stock had a trading volume of 5,707,595 shares, compared to its average volume of 10,674,767. The company has a market capitalization of $73.55 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.78 and a beta of 0.99. The firm's 50-day moving average price is $44.27 and its two-hundred day moving average price is $44.40. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion during the quarter, compared to analysts' expectations of $6.92 billion. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. During the same quarter in the previous year, the business posted $0.78 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.24%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

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.