State of Alaska Department of Revenue Cuts Holdings in U.S. Bancorp (NYSE:USB)

State of Alaska Department of Revenue lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 177,893 shares of the financial services provider’s stock after selling 3,420 shares during the period. State of Alaska Department of Revenue’s holdings in U.S. Bancorp were worth $8,508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Adero Partners LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $377,000. Bleakley Financial Group LLC lifted its holdings in shares of U.S. Bancorp by 2.2% during the 4th quarter. Bleakley Financial Group LLC now owns 45,084 shares of the financial services provider’s stock valued at $2,156,000 after purchasing an additional 962 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position in shares of U.S. Bancorp by 7.9% in the 4th quarter. Centennial Wealth Advisory LLC now owns 12,370 shares of the financial services provider’s stock worth $592,000 after purchasing an additional 908 shares in the last quarter. Trilogy Capital Inc. grew its stake in U.S. Bancorp by 2.9% during the 4th quarter. Trilogy Capital Inc. now owns 8,434 shares of the financial services provider’s stock worth $403,000 after buying an additional 238 shares during the last quarter. Finally, Lion Street Advisors LLC increased its position in U.S. Bancorp by 4.6% during the 4th quarter. Lion Street Advisors LLC now owns 12,659 shares of the financial services provider’s stock valued at $605,000 after buying an additional 552 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $47.69 on Friday. The firm has a market cap of $74.40 billion, a PE ratio of 12.58, a P/E/G ratio of 1.77 and a beta of 1.04. The business has a 50-day moving average price of $49.33 and a 200 day moving average price of $47.42. 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 twelve month low of $37.81 and a twelve month high of $53.98.

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

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated 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 $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated 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 transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. 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, Morgan Stanley reduced their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.