FineMark National Bank & Trust Reduces Position in U.S. Bancorp (NYSE:USB)

FineMark National Bank & Trust reduced its holdings in U.S. Bancorp (NYSE:USB) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 56,470 shares of the financial services provider’s stock after selling 1,880 shares during the period. FineMark National Bank & Trust’s holdings in U.S. Bancorp were worth $2,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Winch Advisory Services LLC lifted its stake in U.S. Bancorp by 1,088.9% in the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 490 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at approximately $28,000. Global Wealth Strategies & Associates lifted its position 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 worth $29,000 after buying an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the fourth quarter worth $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on USB shares. Bank of America cut their target price on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Barclays increased 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. Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 price target on the stock. Oppenheimer increased their price objective 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. Finally, The Goldman Sachs Group reduced their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $53.48.

Insider Activity at U.S. Bancorp

In related news, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $43.70 on Wednesday. The company’s 50 day moving average is $46.11 and its two-hundred day moving average is $47.63. The firm has a market cap of $68.09 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. 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 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its 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. The firm 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 was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.58%. U.S. Bancorp’s payout ratio is 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.