SteelPeak Wealth LLC Sells 163,695 Shares of U.S. Bancorp $USB

SteelPeak Wealth LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 92.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,805 shares of the financial services provider’s stock after selling 163,695 shares during the period. SteelPeak Wealth LLC’s holdings in U.S. Bancorp were worth $690,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Guerra Advisors Inc purchased a new stake in U.S. Bancorp during the 3rd quarter valued at $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth $26,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the third quarter worth $28,000. Finally, Binnacle Investments Inc grew its holdings in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $52.97 on Monday. The stock has a 50-day simple moving average of $54.90 and a two-hundred day simple moving average of $51.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $61.19. The firm has a market capitalization of $82.22 billion, a PE ratio of 11.47, a P/E/G ratio of 0.97 and a beta of 1.01.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. Analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on USB shares. Truist Financial raised U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the company from $61.00 to $66.00 in a report on Thursday, February 26th. Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research note on Monday, February 9th. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $77.00 to $71.00 and set an “outperform” rating on the stock in a report on Friday, March 27th. Finally, Evercore boosted their target price on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.45.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. This trade represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by company insiders.

U.S. Bancorp 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.