U.S. Bancorp $USB Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,538 shares of the financial services provider’s stock after selling 42,563 shares during the period. Farmers & Merchants Investments Inc.’s holdings in U.S. Bancorp were worth $13,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of USB. Andra AP fonden lifted its holdings in shares of U.S. Bancorp by 175.6% in the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after purchasing an additional 292,100 shares in the last quarter. DAVENPORT & Co LLC boosted its position in U.S. Bancorp by 6.6% during the 3rd quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock worth $10,386,000 after acquiring an additional 13,280 shares during the period. Cardinal Capital Management Inc. grew its stake in U.S. Bancorp by 698.5% during the 3rd quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock valued at $11,749,000 after acquiring an additional 212,655 shares in the last quarter. Natixis grew its stake in U.S. Bancorp by 86.1% during the 2nd quarter. Natixis now owns 931,398 shares of the financial services provider’s stock valued at $42,146,000 after acquiring an additional 431,041 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of U.S. Bancorp by 192.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock valued at $90,752,000 after purchasing an additional 1,311,746 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated 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 owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.9%

USB stock opened at $54.48 on Tuesday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $55.15. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a market cap of $84.68 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10. The business’s 50-day simple moving average is $49.76 and its 200 day simple moving average is $47.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the company earned $1.03 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.8%. U.S. Bancorp’s payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several analysts recently commented on USB shares. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. Truist Financial lifted their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 18th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company lifted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.95.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.