Amalgamated Bank Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Amalgamated Bank decreased its position in U.S. Bancorp (NYSE:USB) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,113 shares of the financial services provider’s stock after selling 7,285 shares during the quarter. Amalgamated Bank’s holdings in U.S. Bancorp were worth $14,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its holdings in U.S. Bancorp by 16.9% in the 3rd quarter. AMF Tjanstepension AB now owns 532,105 shares of the financial services provider’s stock worth $24,401,000 after buying an additional 76,914 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of U.S. Bancorp by 19.4% during the third quarter. Assenagon Asset Management S.A. now owns 50,833 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 8,263 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in U.S. Bancorp in the third quarter worth $281,000. Modera Wealth Management LLC boosted its holdings in U.S. Bancorp by 2.8% in the third quarter. Modera Wealth Management LLC now owns 11,448 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 316 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in U.S. Bancorp by 5.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 427,700 shares of the financial services provider’s stock valued at $19,326,000 after purchasing an additional 20,407 shares during the period. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on USB shares. Evercore ISI raised their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a report on Monday, January 13th. Barclays upped their target price on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price for the company. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research note on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total value of $4,821,579.00. Following the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This trade represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 over the last three months. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $45.95 on Wednesday. The company has a 50 day moving average of $48.00 and a 200 day moving average of $47.78. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market cap of $71.69 billion, a P/E ratio of 12.12, a PEG ratio of 1.73 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.35%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.