U.S. Bancorp (NYSE:USB) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,955 shares of the financial services provider's stock after selling 18,437 shares during the period. Manning & Napier Advisors LLC's holdings in U.S. Bancorp were worth $18,195,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in U.S. Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider's stock worth $6,640,569,000 after acquiring an additional 1,079,056 shares during the last quarter. FMR LLC boosted its holdings in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider's stock worth $2,381,443,000 after purchasing an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after purchasing an additional 850,763 shares during the last quarter. Finally, Amundi boosted its holdings in shares of U.S. Bancorp by 7.4% during the fourth quarter. Amundi now owns 19,485,615 shares of the financial services provider's stock worth $945,268,000 after purchasing an additional 1,341,407 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays decreased their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Piper Sandler decreased their price target on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $50.72.

Insider Buying and Selling

In other news, Director Aleem Gillani bought 5,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $559,800. The trade was a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Up 0.2%

Shares of NYSE:USB opened at $43.34 on Friday. The firm has a market cap of $67.53 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $44.73.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced 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. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. During the same period last year, the business earned $0.78 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.61%. U.S. Bancorp's dividend payout ratio (DPR) is 49.50%.

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.

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