Oppenheimer Asset Management Inc. Reduces Position in U.S. Bancorp (NYSE:USB)

Oppenheimer Asset Management Inc. lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 73.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,113 shares of the financial services provider's stock after selling 157,069 shares during the period. Oppenheimer Asset Management Inc.'s holdings in U.S. Bancorp were worth $2,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in U.S. Bancorp by 12.3% in the 4th quarter. Covestor Ltd now owns 1,955 shares of the financial services provider's stock worth $94,000 after acquiring an additional 214 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in shares of U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 231 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider's stock worth $43,000 after purchasing an additional 242 shares during the period. First Command Advisory Services Inc. grew its stake in shares of U.S. Bancorp by 17.5% in the fourth quarter. First Command Advisory Services Inc. now owns 1,858 shares of the financial services provider's stock worth $89,000 after purchasing an additional 277 shares during the last quarter. Finally, Gotham Asset Management LLC increased its holdings in U.S. Bancorp by 0.9% during the 4th quarter. Gotham Asset Management LLC now owns 32,696 shares of the financial services provider's stock valued at $1,564,000 after purchasing an additional 281 shares during the period. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.4%

U.S. Bancorp stock traded up $0.17 during mid-day trading on Friday, hitting $45.79. The company had a trading volume of 15,749,262 shares, compared to its average volume of 9,245,143. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a market capitalization of $71.35 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99. The stock's 50 day moving average price is $42.78 and its two-hundred day moving average price is $44.58. 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 (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) 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 firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 4.37%. U.S. Bancorp's dividend payout ratio is presently 49.50%.

Insider Activity

In other news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director now directly owns 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 0.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods dropped their price objective 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. Truist Financial dropped their price target on U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Morgan Stanley cut their price target on shares of U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Cowen assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, May 14th. They issued a "buy" rating for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.72.

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.