Parallel Advisors LLC Has $966,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Parallel Advisors LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,202 shares of the financial services provider’s stock after selling 876 shares during the period. Parallel Advisors LLC’s holdings in U.S. Bancorp were worth $966,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in shares of U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth about $1,018,000. M&T Bank Corp boosted its stake in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of U.S. Bancorp by 11.3% during the 4th quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after buying an additional 38,802 shares during the last quarter. Finally, Keystone Financial Planning Inc. raised its holdings in shares of U.S. Bancorp by 29.5% in the 4th quarter. Keystone Financial Planning Inc. now owns 72,614 shares of the financial services provider’s stock valued at $3,473,000 after purchasing an additional 16,552 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last three months. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on USB. The Goldman Sachs Group reduced their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America reduced their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a report on Monday. Morgan Stanley reduced their price target on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Oppenheimer lifted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.93.

U.S. Bancorp Stock Up 0.9 %

NYSE USB opened at $42.64 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a 50 day moving average of $46.52 and a 200-day moving average of $47.69. The company has a market cap of $66.44 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.69%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

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.