Alps Advisors Inc. Sells 47,244 Shares of U.S. Bancorp $USB

Alps Advisors Inc. reduced its position in U.S. Bancorp (NYSE:USB) by 8.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 524,529 shares of the financial services provider’s stock after selling 47,244 shares during the quarter. Alps Advisors Inc.’s holdings in U.S. Bancorp were worth $25,350,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $971,285,000. Davis Selected Advisers grew its stake in U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in U.S. Bancorp by 1,589.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC increased its holdings in U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after purchasing an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after buying an additional 2,038,996 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

USB opened at $60.74 on Friday. The firm’s fifty day moving average price is $54.57 and its two-hundred day moving average price is $49.89. The company has a market capitalization of $94.42 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $60.91.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The business had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 EPS. As a group, 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 declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 45.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. UBS Group restated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday. HSBC reiterated a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. Oppenheimer raised their target price on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Truist Financial boosted their target price on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $58.90.

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.