U.S. Bancorp $USB Shares Sold by Truist Financial Corp

Key Points

• Truist Financial trimmed its stake in U.S. Bancorp by 9.4% in Q4, selling 96,667 shares and leaving 932,673 shares worth about $49.8 million (≈0.06% of the company).
• U.S. Bancorp beat quarterly EPS ($1.18 vs. $1.14 expected) with revenue of $7.32 billion, and recently paid a $0.52 quarterly dividend (annualized yield ~3.7%).
• Corporate insiders have continued to sell shares, while analysts maintain a consensus rating of Moderate Buy with an average price target of $61.20.

Truist Financial Corp trimmed its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 932,673 shares of the financial services provider's stock after selling 96,667 shares during the period. Truist Financial Corp owned about 0.06% of U.S. Bancorp worth $49,767,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in USB. Guerra Advisors Inc acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $26,000. Finally, JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at approximately $28,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.7%

NYSE:USB opened at $55.61 on Wednesday. U.S. Bancorp has a 1 year low of $40.89 and a 1 year high of $61.19. The stock has a market cap of $86.33 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.00 and a beta of 1.00. The business has a fifty day moving average of $54.04 and a 200-day moving average of $53.02. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp's dividend payout ratio is 43.61%.

Analysts Set New Price Targets

A number of brokerages have issued reports on USB. TD Cowen upped their target price on U.S. Bancorp from $65.00 to $66.00 and gave the company a "buy" rating in a research report on Wednesday, January 21st. UBS Group reaffirmed a "neutral" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research report on Wednesday, February 4th. Piper Sandler reissued a "buy" rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Weiss Ratings reissued a "buy (b-)" rating on shares of U.S. Bancorp in a research report on Monday, April 20th. Finally, HSBC reissued a "buy" rating and set a $62.00 price target on shares of U.S. Bancorp in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.20.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.