HM Payson & Co. Sells 992 Shares of U.S. Bancorp (NYSE:USB)

HM Payson & Co. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 31.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,182 shares of the financial services provider’s stock after selling 992 shares during the quarter. HM Payson & Co.’s holdings in U.S. Bancorp were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Winch Advisory Services LLC raised its stake in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in U.S. Bancorp during the fourth quarter valued at $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at $28,000. Frazier Financial Advisors LLC raised its stake in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. Finally, Global Wealth Strategies & Associates raised its stake in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

NYSE:USB opened at $44.77 on Monday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $69.84 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 1.02. The firm has a 50-day simple moving average of $47.54 and a 200-day simple moving average of $47.93.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,812 shares of company stock valued at $10,385,665. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of recent research reports. Barclays upped their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Truist Financial began coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Finally, Oppenheimer increased their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.21.

U.S. Bancorp 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.