Rhumbline Advisers Cuts Position in U.S. Bancorp (NYSE:USB)

Rhumbline Advisers lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,939,543 shares of the financial services provider's stock after selling 143,412 shares during the period. Rhumbline Advisers owned 0.19% of U.S. Bancorp worth $124,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of USB. Capital Performance Advisors LLP boosted its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider's stock worth $392,000 after acquiring an additional 210 shares in the last quarter. Covestor Ltd lifted its stake in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after purchasing an additional 214 shares during the last quarter. Strategic Blueprint LLC lifted its stake in U.S. Bancorp by 5.2% during the fourth quarter. Strategic Blueprint LLC now owns 4,611 shares of the financial services provider's stock worth $221,000 after purchasing an additional 226 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in U.S. Bancorp by 4.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 4,891 shares of the financial services provider's stock valued at $236,000 after purchasing an additional 230 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its stake in U.S. Bancorp by 2.3% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on USB shares. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price for the company in a report on Thursday, April 3rd. Piper Sandler dropped their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. The Goldman Sachs Group cut their target price on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Wall Street Zen cut U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Citigroup cut their price target on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

U.S. Bancorp Price Performance

USB stock traded down $0.50 on Wednesday, reaching $43.88. 4,257,508 shares of the company's stock were exchanged, compared to its average volume of 9,085,688. The stock has a fifty day moving average of $41.03 and a 200-day moving average of $45.50. The firm has a market cap of $68.37 billion, a PE ratio of 11.58, a P/E/G ratio of 1.73 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to analysts' expectations of $6.92 billion. During the same period in the prior year, the company posted $0.78 EPS. As a group, equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.56%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company's stock.

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.