LS Investment Advisors LLC Sells 6,750 Shares of U.S. Bancorp (NYSE:USB)

LS Investment Advisors LLC decreased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,281 shares of the financial services provider's stock after selling 6,750 shares during the period. LS Investment Advisors LLC's holdings in U.S. Bancorp were worth $3,094,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of USB. Norges Bank bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $777,524,000. Invesco Ltd. grew its holdings in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $184,733,000. Finally, FMR LLC grew its holdings in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the 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 now directly owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on USB. Bank of America reduced their price target on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Barclays reduced their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Citigroup reduced their price target on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods reduced their price target on U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler reduced their price objective on U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.67.

U.S. Bancorp Price Performance

Shares of NYSE USB traded up $1.08 during midday trading on Friday, reaching $44.76. The company's stock had a trading volume of 7,647,666 shares, compared to its average volume of 9,074,275. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The business's 50 day moving average price is $41.15 and its two-hundred day moving average price is $45.32. The company has a market cap of $69.74 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results 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 net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the previous year, the business earned $0.78 earnings per share. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.47%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

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.