Mechanics Financial Corp Sells 1,770 Shares of U.S. Bancorp (NYSE:USB)

Mechanics Financial Corp lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 27.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,616 shares of the financial services provider’s stock after selling 1,770 shares during the quarter. Mechanics Financial Corp’s holdings in U.S. Bancorp were worth $221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Winch Advisory Services LLC grew its stake in shares of U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp bought a new position in U.S. Bancorp in the 4th quarter valued at $26,000. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at $28,000. Global Wealth Strategies & Associates raised its position in shares of 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 acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the transaction, the executive vice president now directly owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the firm’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 sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. This represents a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE USB opened at $42.21 on Friday. The firm has a market capitalization of $65.77 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s fifty day moving average price is $45.74 and its two-hundred day moving average price is $47.55. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last issued 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. 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 for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the prior year, the firm earned $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 annualized dividend and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Bank of America dropped their price target on U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company decreased their price objective on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday. Piper Sandler upgraded 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. Finally, Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $53.21.

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.