Siemens Fonds Invest GmbH Cuts Position in U.S. Bancorp (NYSE:USB)

Siemens Fonds Invest GmbH decreased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 98.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 696 shares of the financial services provider's stock after selling 54,500 shares during the quarter. Siemens Fonds Invest GmbH's holdings in U.S. Bancorp were worth $33,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $26,000. FPC Investment Advisory Inc. acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC bought a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $30,000. Picton Mahoney Asset Management bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at $30,000. Finally, REAP Financial Group LLC grew its stake in U.S. Bancorp by 86.1% during the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after buying an additional 297 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Activity

In related news, Director Aleem Gillani purchased 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, with a total value of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company's stock, valued at $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Down 0.9%

U.S. Bancorp stock traded down $0.39 during midday trading on Wednesday, reaching $43.99. The stock had a trading volume of 2,851,164 shares, compared to its average volume of 9,078,691. The company has a fifty day moving average price of $41.03 and a two-hundred day moving average price of $45.50. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $68.54 billion, a P/E ratio of 11.61, a PEG ratio of 1.73 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data 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. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.55%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Oppenheimer raised their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Royal Bank of Canada cut their target price on shares of 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. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a report on Thursday, April 3rd. TD Cowen started coverage on U.S. Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Piper Sandler lowered their target price on 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 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 company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $50.89.

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.