U.S. Bancorp $USB Stake Decreased by Intact Investment Management Inc.

Key Points

• Intact Investment Management trimmed its U.S. Bancorp stake by 20.4% in the 4th quarter, selling 44,500 shares and leaving it with 173,900 shares valued at about $9.28 million.
• Two insiders — Jodi L. Richard and Mark G. Runkel — sold a combined ~72,195 shares (roughly $4.23 million), reducing insider ownership to just 0.21% of the company.
• Analysts hold a consensus "Moderate Buy" rating with a $61.20 price target; U.S. Bancorp recently beat quarterly EPS and revenue estimates and pays a $0.52 quarterly dividend (about a 3.7% yield).

Intact Investment Management Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,900 shares of the financial services provider's stock after selling 44,500 shares during the period. Intact Investment Management Inc.'s holdings in U.S. Bancorp were worth $9,279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Guerra Advisors Inc acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $25,000. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $26,000. Finally, JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth approximately $28,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 21st. Morgan Stanley set a $64.00 price objective on U.S. Bancorp in a research report on Friday, April 17th. Wolfe Research downgraded U.S. Bancorp from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, January 7th. HSBC reissued a "buy" rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Wednesday, January 7th. Finally, Truist Financial dropped their target price on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

NYSE USB opened at $56.36 on Monday. The stock has a market capitalization of $87.48 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.01 and a beta of 1.00. U.S. Bancorp has a 1 year low of $40.75 and a 1 year high of $61.19. The business's fifty day moving average is $54.10 and its two-hundred day moving average is $52.96. 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 posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date of this dividend 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 currently 43.61%.

U.S. Bancorp Profile

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.