South Dakota Investment Council Reduces Position in U.S. Bancorp (NYSE:USB)

South Dakota Investment Council cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 619,864 shares of the financial services provider's stock after selling 52,100 shares during the period. U.S. Bancorp comprises approximately 0.6% of South Dakota Investment Council's investment portfolio, making the stock its 24th biggest holding. South Dakota Investment Council's holdings in U.S. Bancorp were worth $26,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp during the fourth quarter valued at $27,000. Naples Money Management LLC acquired a new position in U.S. Bancorp during the fourth quarter valued at $30,000. Finally, Legacy Financial Group LLC acquired a new position in U.S. Bancorp during the third quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Evercore ISI upped their price objective on shares of U.S. Bancorp from $46.00 to $48.00 and gave the stock an "in-line" rating in a research report on Thursday, March 28th. StockNews.com downgraded shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, February 20th. Piper Sandler reiterated a "neutral" rating on shares of U.S. Bancorp in a research report on Friday, January 26th. DA Davidson decreased their price objective on shares of U.S. Bancorp from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, April 18th. Finally, Morgan Stanley upped their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, U.S. Bancorp has an average rating of "Hold" and an average price target of $46.14.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 0.2 %

Shares of U.S. Bancorp stock traded down $0.09 during mid-day trading on Tuesday, hitting $40.96. The stock had a trading volume of 7,079,857 shares, compared to its average volume of 8,815,390. The firm has a 50-day moving average of $42.34 and a two-hundred day moving average of $40.03. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm has a market cap of $63.82 billion, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter in the prior year, the company posted $1.16 EPS. The business's revenue for the quarter was down 6.4% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a dividend yield of 4.79%. U.S. Bancorp's dividend payout ratio is currently 64.90%.

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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