Exchange Traded Concepts LLC Lowers Stake in U.S. Bancorp (NYSE:USB)

Exchange Traded Concepts LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 6.9% in the 4th quarter, HoldingsChannel reports. The firm owned 187,063 shares of the financial services provider’s stock after selling 13,909 shares during the quarter. Exchange Traded Concepts LLC’s holdings in U.S. Bancorp were worth $8,947,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CX Institutional lifted its holdings in shares of U.S. Bancorp by 37.3% in the 4th quarter. CX Institutional now owns 24,413 shares of the financial services provider’s stock worth $1,168,000 after acquiring an additional 6,631 shares during the last quarter. Encompass More Asset Management grew its holdings in shares of U.S. Bancorp by 29.6% during the 4th quarter. Encompass More Asset Management now owns 6,524 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 1,491 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in U.S. Bancorp by 1,408.7% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 59,457 shares of the financial services provider’s stock worth $2,869,000 after purchasing an additional 55,516 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in U.S. Bancorp by 6.5% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 10,341 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 633 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after buying an additional 36,863 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer raised their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Truist Financial started coverage on shares of U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price for the company. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $49.00 on Friday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm’s 50-day moving average is $50.01 and its 200 day moving average is $47.04. The stock has a market cap of $76.43 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.81 and a beta of 1.05. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

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 firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

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.