U.S. Bancorp $USB Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 15.2% in the third quarter, Holdings Channel.com reports. The fund owned 1,309,682 shares of the financial services provider’s stock after selling 234,658 shares during the period. APG Asset Management N.V.’s holdings in U.S. Bancorp were worth $63,297,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Parcion Private Wealth LLC lifted its stake in U.S. Bancorp by 0.4% during the third quarter. Parcion Private Wealth LLC now owns 53,412 shares of the financial services provider’s stock valued at $2,581,000 after purchasing an additional 218 shares during the last quarter. Bogart Wealth LLC increased its holdings in shares of U.S. Bancorp by 4.4% in the third quarter. Bogart Wealth LLC now owns 5,507 shares of the financial services provider’s stock valued at $266,000 after buying an additional 234 shares in the last quarter. Hoxton Planning & Management LLC lifted its position in shares of U.S. Bancorp by 3.4% during the 3rd quarter. Hoxton Planning & Management LLC now owns 7,021 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 234 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 0.5% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 43,289 shares of the financial services provider’s stock valued at $2,092,000 after acquiring an additional 235 shares during the last quarter. Finally, Crestwood Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on USB. Barclays upped their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Truist Financial upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $61.00 to $66.00 in a report on Thursday. Oppenheimer upped their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Royal Bank Of Canada lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Finally, Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Stock Down 4.7%

USB stock opened at $54.57 on Monday. The company has a 50 day moving average of $56.17 and a two-hundred day moving average of $51.23. The company 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. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. 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 (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.92 billion during the quarter, compared to analysts’ expectations of $7.31 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp’s payout ratio is presently 45.02%.

About U.S. Bancorp

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.