U.S. Bancorp $USB Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its stake in U.S. Bancorp (NYSE:USB) by 10.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 490,287 shares of the financial services provider’s stock after selling 56,479 shares during the quarter. Corient Private Wealth LLC’s holdings in U.S. Bancorp were worth $22,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Curbstone Financial Management Corp grew its position in U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock valued at $1,809,000 after purchasing an additional 222 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 237 shares during the last quarter. Mechanics Financial Corp lifted its stake in shares of U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock worth $217,000 after buying an additional 240 shares during the last quarter. Northern Financial Advisors Inc boosted its holdings in U.S. Bancorp by 5.0% during the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE boosted its stake in U.S. Bancorp by 0.5% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. The trade was a 9.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen upped their price target on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Oppenheimer reduced their price objective on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, November 19th. Truist Financial boosted their price objective on U.S. Bancorp from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Finally, Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.63.

U.S. Bancorp Trading Up 0.5%

USB opened at $53.75 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $83.55 billion, a PE ratio of 12.30, a PEG ratio of 1.01 and a beta of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $54.04. The firm has a 50-day moving average price of $48.43 and a two-hundred day moving average price of $47.26.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

About U.S. Bancorp

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.