U.S. Bancorp (NYSE:USB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in U.S. Bancorp (NYSE:USB - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,496,338 shares of the financial services provider's stock after selling 5,314,593 shares during the period. Bank of New York Mellon Corp owned about 0.80% of U.S. Bancorp worth $527,595,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. Westend Capital Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $27,000. Picton Mahoney Asset Management acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $30,000. Alpine Bank Wealth Management acquired a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. Millstone Evans Group LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $31,000. Finally, REAP Financial Group LLC boosted its holdings in shares of U.S. Bancorp by 86.1% during the 4th 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 last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.5%

Shares of U.S. Bancorp stock traded up $0.24 during trading hours on Friday, reaching $47.73. 7,036,266 shares of the company were exchanged, compared to its average volume of 9,346,158. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The stock's fifty day moving average is $43.70 and its 200 day moving average is $44.38. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $74.36 billion, a PE ratio of 11.81, a PEG ratio of 1.80 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $6.96 billion for the quarter, compared to analyst estimates 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 prior year, the company earned $0.78 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director owned 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on USB shares. Oppenheimer boosted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $41.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Barclays decreased their price objective on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Truist Financial decreased their price objective on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company decreased their price objective on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $51.34.

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.