Kennebec Savings Bank Sells 322 Shares of U.S. Bancorp (NYSE:USB)

Kennebec Savings Bank reduced its stake in U.S. Bancorp (NYSE:USB) by 21.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,159 shares of the financial services provider’s stock after selling 322 shares during the quarter. Kennebec Savings Bank’s holdings in U.S. Bancorp were worth $56,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. raised its position in shares of U.S. Bancorp by 153.0% in the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in U.S. Bancorp by 109.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after purchasing an additional 1,847,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in U.S. Bancorp by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.8 %

USB stock opened at $48.04 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The firm has a market cap of $74.94 billion, a PE ratio of 12.68, a PEG ratio of 1.77 and a beta of 1.05. The firm’s 50 day moving average price is $49.87 and its 200-day moving average price is $47.30. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 4.37 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

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.