Bahl & Gaynor Inc. Sells 392,025 Shares of U.S. Bancorp (NYSE:USB)

Bahl & Gaynor Inc. cut its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,665,990 shares of the financial services provider's stock after selling 392,025 shares during the quarter. U.S. Bancorp accounts for 1.7% of Bahl & Gaynor Inc.'s portfolio, making the stock its 19th biggest holding. Bahl & Gaynor Inc. owned approximately 0.43% of U.S. Bancorp worth $288,504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in U.S. Bancorp by 5.0% during the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider's stock worth $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Mufg Bank LTD. boosted its holdings in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider's stock valued at $2,260,450,000 after purchasing an additional 24,000,000 shares in the last quarter. FMR LLC boosted its holdings in U.S. Bancorp by 1.8% during the third quarter. FMR LLC now owns 37,470,199 shares of the financial services provider's stock valued at $1,238,765,000 after purchasing an additional 674,583 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,120,947 shares of the financial services provider's stock valued at $1,028,859,000 after purchasing an additional 1,610,004 shares in the last quarter. Finally, Aristotle Capital Management LLC boosted its holdings in U.S. Bancorp by 266.6% during the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider's stock valued at $775,842,000 after purchasing an additional 17,066,479 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USB. Oppenheimer decreased their price objective on U.S. Bancorp from $55.00 to $54.00 and set an "outperform" rating on the stock in a report on Thursday, April 18th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Piper Sandler reiterated a "neutral" rating on shares of U.S. Bancorp in a research note on Friday, January 26th. Royal Bank of Canada lifted their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. Finally, StockNews.com cut shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $46.14.

U.S. Bancorp Trading Up 0.3 %

Shares of U.S. Bancorp stock traded up $0.13 on Friday, hitting $41.12. 4,512,229 shares of the company's stock traded hands, compared to its average volume of 7,300,433. The firm's 50-day moving average price is $42.34 and its two-hundred day moving average price is $40.16. The stock has a market capitalization of $64.07 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

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

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp's payout ratio is presently 64.90%.

Insider Buying and Selling

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

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.