Pacer Advisors Inc. Sells 75,420 Shares of U.S. Bancorp $USB

Key Points

• Pacer Advisors reduced its U.S. Bancorp stake by 49.2%, selling 75,420 shares during the first quarter and retaining 77,848 shares valued at approximately $4.05 million. Institutional investors and hedge funds collectively own 77.6% of the stock.
• U.S. Bancorp reported quarterly earnings of $1.35 per share, beating analyst expectations of $1.28, while revenue reached $7.69 billion. The bank also paid a quarterly dividend of $0.52 per share, equivalent to a 3.3% annualized yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $67.06, compared with its reported share price of $63.81.

Pacer Advisors Inc. lessened its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,848 shares of the financial services provider's stock after selling 75,420 shares during the period. Pacer Advisors Inc.'s holdings in U.S. Bancorp were worth $4,049,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $27,000. Main Street Group LTD bought a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $28,000. Rossby Financial LCC raised its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 212 shares in the last quarter. NFSG Corp acquired a new stake in U.S. Bancorp in the 1st quarter worth approximately $31,000. Finally, JPL Wealth Management LLC acquired a new stake in U.S. Bancorp in the 3rd quarter worth approximately $28,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $63.81 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The business's 50 day moving average is $60.55 and its two-hundred day moving average is $57.00. The company has a market cap of $98.97 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a 12 month low of $43.96 and a 12 month high of $65.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the business earned $1.11 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio is presently 41.52%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the firm's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares in the company, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on USB. DA Davidson increased their price target on U.S. Bancorp from $72.00 to $74.00 and gave the company a "buy" rating in a report on Friday, July 17th. Weiss Ratings restated a "buy (b)" rating on shares of U.S. Bancorp in a research note on Friday, July 31st. Truist Financial upped their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Citigroup reiterated a "buy" rating on shares of U.S. Bancorp in a research note on Tuesday, July 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.06.

U.S. Bancorp 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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