Callan Family Office LLC Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Key Points

• Callan Family Office LLC sold 15,293 shares of U.S. Bancorp, reducing its stake by 41.5%, bringing its total holdings to 21,517 shares valued at $908,000.
• U.S. Bancorp reported $1.11 EPS for the last quarter, beating analysts' estimates, and had revenue of $7.06 billion, a 2.0% increase year-over-year.
• The company declared a $0.50 quarterly dividend, resulting in an annualized yield of 4.4%, with a payout ratio of 47.85%.

Callan Family Office LLC lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 41.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,517 shares of the financial services provider's stock after selling 15,293 shares during the quarter. Callan Family Office LLC's holdings in U.S. Bancorp were worth $908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC purchased a new stake in U.S. Bancorp in the 1st quarter valued at about $27,000. REAP Financial Group LLC boosted its holdings 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 valued at $31,000 after purchasing an additional 297 shares during the period. YANKCOM Partnership grew its stake in U.S. Bancorp by 59.4% in the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in U.S. Bancorp during the 1st quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of U.S. Bancorp by 1,212.1% in the 1st quarter. Rakuten Securities Inc. now owns 761 shares of the financial services provider's stock worth $32,000 after buying an additional 703 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Down 1.9%

USB traded down $0.87 during trading hours on Friday, hitting $45.96. 8,995,415 shares of the company's stock were exchanged, compared to its average volume of 10,686,531. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a 50 day moving average of $45.44 and a 200 day moving average of $43.88. The firm has a market cap of $71.52 billion, a P/E ratio of 11.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Analysts predict 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, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's dividend payout ratio (DPR) is 47.85%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on USB. TD Cowen began coverage on shares of U.S. Bancorp in a research report on Thursday, May 15th. They set a "buy" rating and a $60.00 target price on the stock. DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Piper Sandler lowered their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Morgan Stanley raised their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Finally, Citigroup upped their target price on U.S. Bancorp from $55.00 to $59.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $52.55.

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.