Bank of New York Mellon Corp Has $527.60 Million Holdings in U.S. Bancorp (NYSE:USB)

Bank of New York Mellon Corp lowered its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 29.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 approximately 0.80% of U.S. Bancorp worth $527,595,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in USB. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp in the first quarter valued at $27,000. Picton Mahoney Asset Management bought a new position in U.S. Bancorp during the 4th quarter valued at $30,000. Alpine Bank Wealth Management bought a new position in U.S. Bancorp during the 1st quarter valued at $30,000. Millstone Evans Group LLC bought a new position in U.S. Bancorp during the 4th quarter valued at $31,000. Finally, REAP Financial Group LLC boosted its stake in 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 valued at $31,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp 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 transaction, the director directly owned 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Up 0.0%

Shares of USB stock traded up $0.02 on Monday, reaching $47.95. The company had a trading volume of 4,732,319 shares, compared to its average volume of 10,639,339. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $43.70 and a 200-day moving average of $44.36. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The stock has a market cap of $74.71 billion, a PE ratio of 11.85, a PEG ratio of 1.80 and a beta of 0.99.

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 (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the previous year, the firm earned $0.78 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm 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 $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Analysts Set New Price Targets

A number of research firms have commented on USB. Barclays reduced their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Wall Street Zen downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Truist Financial reduced their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price target for the stock from $51.00 to $57.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.61.

About U.S. Bancorp

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.