Valley National Advisers Inc. Reduces Position in U.S. Bancorp (NYSE:USB)

Valley National Advisers Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 29.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,602 shares of the financial services provider's stock after selling 7,050 shares during the period. Valley National Advisers Inc.'s holdings in U.S. Bancorp were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Brighton Jones LLC lifted its stake in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider's stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Proficio Capital Partners LLC bought a new position in U.S. Bancorp during the 4th quarter worth approximately $5,986,000. SVB Wealth LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $367,000. WR Wealth Planners LLC boosted its stake in shares of U.S. Bancorp by 74.7% in the 4th quarter. WR Wealth Planners LLC now owns 1,055 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 451 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of U.S. Bancorp by 10.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 13,736 shares of the financial services provider's stock valued at $663,000 after purchasing an additional 1,281 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of U.S. Bancorp from $51.00 to $48.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Raymond James Financial reissued an "outperform" rating and issued a $51.00 price objective (down from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. Cowen assumed coverage on U.S. Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Wells Fargo & Company lowered their target price on U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Barclays cut their price target on U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two 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. According to MarketBeat, U.S. Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $50.72.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $1.21 on Tuesday, hitting $46.46. The company's stock had a trading volume of 16,512,974 shares, compared to its average volume of 9,289,069. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a market capitalization of $72.39 billion, a PE ratio of 11.50, a PEG ratio of 1.72 and a beta of 1.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $43.08 and a 200 day simple moving average of $44.41.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.30%. U.S. Bancorp's payout ratio is 49.50%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 5,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $37.32 per share, with a total value of $186,600.00. Following the purchase, the director owned 15,000 shares of the company's stock, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

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.