Lockheed Martin Investment Management Co. Decreases Holdings in U.S. Bancorp (NYSE:USB)

Lockheed Martin Investment Management Co. reduced its stake in U.S. Bancorp (NYSE:USB) by 28.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 101,000 shares of the financial services provider’s stock after selling 39,600 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in U.S. Bancorp were worth $4,831,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group grew its position in shares of U.S. Bancorp by 4.4% during the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 201 shares during the period. McAdam LLC grew its holdings in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares during the period. HCR Wealth Advisors increased its position in U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after buying an additional 211 shares during the last quarter. Priebe Wealth Holdings LLC increased its position in U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after buying an additional 215 shares during the last quarter. Finally, Essex Savings Bank raised its stake in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.3 %

Shares of USB stock opened at $47.48 on Wednesday. The business has a 50-day moving average price of $49.58 and a two-hundred day moving average price of $47.40. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The firm has a market cap of $74.07 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. U.S. Bancorp’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on USB shares. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.21.

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.