Fairfield Bush & CO. Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Fairfield Bush & CO. lessened its holdings in U.S. Bancorp (NYSE:USB) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,916 shares of the financial services provider’s stock after selling 400 shares during the period. Fairfield Bush & CO.’s holdings in U.S. Bancorp were worth $379,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Norges Bank acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $777,524,000. Invesco Ltd. boosted its stake in shares of U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Franklin Resources Inc. grew its position in shares of U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares in the last quarter. Marshall Wace LLP raised its holdings in U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after acquiring an additional 4,663,518 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth $184,733,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In related news, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 99,790 shares of the company’s stock, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock worth $10,385,665 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.1 %

Shares of NYSE USB opened at $37.81 on Thursday. The business has a fifty day simple moving average of $42.91 and a 200-day simple moving average of $46.86. The company has a market cap of $58.91 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. 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 (NYSE:USB) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period last year, the firm posted $0.78 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.29%. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial lowered their price objective on U.S. Bancorp from $54.00 to $51.00 and set a “hold” rating for the company in a report on Friday, April 4th. 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 report on Monday, January 13th. Morgan Stanley cut their price target on U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, April 7th. DA Davidson upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $58.00 to $60.00 in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.52.

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.