U.S. Bancorp (NYSE:USB) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,090 shares of the financial services provider's stock after selling 11,770 shares during the period. U.S. Bancorp comprises 4.0% of Heritage Wealth Management Inc.'s holdings, making the stock its 4th largest position. Heritage Wealth Management Inc.'s holdings in U.S. Bancorp were worth $11,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Westend Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at approximately $27,000. Picton Mahoney Asset Management acquired a new stake in U.S. Bancorp during the fourth quarter valued at $30,000. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp during the first quarter valued at $30,000. Millstone Evans Group LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at $31,000. Finally, REAP Financial Group LLC raised 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 acquiring an additional 297 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Down 0.3%

Shares of NYSE USB traded down $0.15 during midday trading on Monday, reaching $47.78. 14,353,635 shares of the stock were exchanged, compared to its average volume of 9,366,184. The stock has a market capitalization of $74.44 billion, a P/E ratio of 11.83, a PEG ratio of 1.80 and a beta of 0.99. 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 company has a 50 day simple moving average of $43.70 and a 200 day simple moving average of $44.36. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98.

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, topping 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 company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

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 issued a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.19%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 5,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $559,800. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

USB has been the topic of a number of analyst reports. Morgan Stanley raised their target price on U.S. Bancorp from $50.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday. Raymond James Financial upgraded U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $51.00 to $57.00 in a research report on Monday. DA Davidson cut their price objective on U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Piper Sandler reduced their target price on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Wolfe Research upgraded U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $51.61.

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.