Truist Financial Corp Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

Truist Financial Corp lowered its stake in U.S. Bancorp (NYSE:USB - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,087,669 shares of the financial services provider's stock after selling 181,354 shares during the period. Truist Financial Corp owned approximately 0.07% of U.S. Bancorp worth $45,921,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Westend Capital Management LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth about $27,000. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp during the fourth quarter valued at $30,000. Alpine Bank Wealth Management purchased a new position in shares of U.S. Bancorp in the first quarter worth $30,000. Millstone Evans Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at $31,000. Finally, REAP Financial Group LLC boosted its position in shares of U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider's stock worth $31,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $47.73 on Monday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock's 50-day moving average is $43.70 and its 200 day moving average is $44.36. The company has a market cap of $74.36 billion, a P/E ratio of 11.81, a PEG ratio of 1.80 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The company had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter last year, the company earned $0.78 earnings per share. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp's payout ratio is currently 49.50%.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were bought 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 directly owned 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on USB shares. Wells Fargo & Company dropped their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Morgan Stanley upped their price objective on U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America decreased their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Piper Sandler reduced their price target 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. Finally, Wall Street Zen downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a report on Saturday, June 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.34.

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.

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