West Oak Capital LLC Cuts Stake in U.S. Bancorp (NYSE:USB)

West Oak Capital LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,228 shares of the financial services provider’s stock after selling 12,513 shares during the quarter. West Oak Capital LLC’s holdings in U.S. Bancorp were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $25,000. BKM Wealth Management LLC purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $26,000. Planned Solutions Inc. bought a new stake in U.S. Bancorp in the fourth quarter valued at approximately $27,000. Legacy Financial Group LLC purchased a new stake in shares of U.S. Bancorp during the third quarter valued at approximately $30,000. Finally, First Command Advisory Services Inc. bought a new position in shares of U.S. Bancorp in the third quarter worth approximately $35,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 1.5 %

U.S. Bancorp stock traded up $0.65 during mid-day trading on Thursday, hitting $44.65. The company had a trading volume of 1,902,170 shares, compared to its average volume of 8,998,626. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock’s 50 day moving average price is $41.92 and its two-hundred day moving average price is $38.80. The company has a market capitalization of $69.57 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.28. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.49 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.39%. U.S. Bancorp’s dividend payout ratio is presently 59.76%.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. Evercore ISI increased their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research report on Thursday. Morgan Stanley increased their target price on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Robert W. Baird lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research report on Friday, December 15th. Finally, HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $53.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.41.

Insider Activity

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The disclosure for this sale can be found here. Insiders sold 60,265 shares of company stock valued at $2,535,903 over the last three months. Insiders own 0.23% of the company’s stock.

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.