Bahl & Gaynor Inc. Sells 29,592 Shares of U.S. Bancorp $USB

Bahl & Gaynor Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,577,657 shares of the financial services provider’s stock after selling 29,592 shares during the quarter. Bahl & Gaynor Inc. owned 0.17% of U.S. Bancorp worth $124,578,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Chemung Canal Trust Co. grew its holdings in shares of U.S. Bancorp by 205.5% in the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after purchasing an additional 45,963 shares during the last quarter. Citigroup Inc. boosted its position in U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock valued at $84,568,000 after buying an additional 41,803 shares during the period. Jones Financial Companies Lllp boosted its position in U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock valued at $17,738,000 after buying an additional 47,537 shares during the period. Synergy Asset Management LLC grew its stake in U.S. Bancorp by 100.0% in the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock worth $5,428,000 after acquiring an additional 59,981 shares in the last quarter. Finally, Andra AP fonden increased its position in shares of U.S. Bancorp by 175.6% during the second quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock worth $20,743,000 after acquiring an additional 292,100 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Argus boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Oppenheimer lifted their target price on U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating and issued a $60.00 target price on shares of U.S. Bancorp in a report on Wednesday, February 4th. Piper Sandler reissued a “buy” rating on shares of U.S. Bancorp in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on U.S. Bancorp from $55.50 to $62.00 and gave the company an “underweight” rating in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.02.

U.S. Bancorp Trading Down 4.7%

USB opened at $54.57 on Monday. The firm has a market cap of $84.78 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 0.98 and a beta of 1.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The stock has a fifty day moving average price of $56.17 and a 200-day moving average price of $51.23.

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 for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s payout ratio is presently 45.02%.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 97,728 shares of the company’s stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.23% 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.