E. Ohman J or Asset Management AB Sells 13,313 Shares of U.S. Bancorp $USB

E. Ohman J or Asset Management AB reduced its position in U.S. Bancorp (NYSE:USB) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,268 shares of the financial services provider’s stock after selling 13,313 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in U.S. Bancorp were worth $2,896,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in USB. Guerra Advisors Inc bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $25,000. Financial Life Planners bought a new position in shares of U.S. Bancorp during the third quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at approximately $26,000. JPL Wealth Management LLC purchased a new position in U.S. Bancorp during the third quarter valued at approximately $28,000. Finally, Hillsdale Investment Management Inc. purchased a new position in U.S. Bancorp during the second quarter valued at approximately $27,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USB. TD Cowen upped their target price on U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. Truist Financial raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $61.00 to $66.00 in a research report on Thursday, February 26th. Oppenheimer upped their price objective on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Finally, Argus raised their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Price Performance

Shares of USB opened at $52.07 on Wednesday. The company has a 50 day moving average of $55.35 and a two-hundred day moving average of $51.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $61.19. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results 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. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

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.