U.S. Bancorp (NYSE:USB) Stock Position Cut by Cascade Investment Advisors Inc.

Cascade Investment Advisors Inc. cut its stake in shares of U.S. Bancorp (NYSE:USB) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,550 shares of the financial services provider’s stock after selling 1,767 shares during the period. U.S. Bancorp comprises approximately 2.0% of Cascade Investment Advisors Inc.’s holdings, making the stock its 5th largest position. Cascade Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $3,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of USB. Brooklyn Investment Group lifted its position in U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares in the last quarter. McAdam LLC lifted its holdings in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares in the last quarter. HCR Wealth Advisors boosted its position in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares during the period. Priebe Wealth Holdings LLC raised its position in shares of U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 215 shares during the period. Finally, Essex Savings Bank lifted its stake in shares of U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after buying an additional 216 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.9 %

Shares of NYSE USB opened at $49.52 on Tuesday. The business’s 50 day moving average price is $49.99 and its 200-day moving average price is $47.20. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 1.81 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last released 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. The business had revenue of $7.01 billion during 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 business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts expect that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 4.04%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on USB. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a report on Thursday, December 19th. Wells Fargo & Company upped 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. Finally, Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.