Brandywine Global Investment Management LLC Sells 10,635 Shares of U.S. Bancorp $USB

Brandywine Global Investment Management LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 552,949 shares of the financial services provider’s stock after selling 10,635 shares during the period. Brandywine Global Investment Management LLC’s holdings in U.S. Bancorp were worth $29,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp lifted its stake in U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after purchasing an additional 648,943 shares during the last quarter. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Norges Bank purchased a new position in shares of U.S. Bancorp in the fourth quarter worth about $1,887,497,000. Finally, Davis Selected Advisers increased its holdings in shares of U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after buying an additional 2,610,197 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.6%

Shares of NYSE:USB opened at $55.34 on Tuesday. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The company has a market cap of $85.83 billion, a PE ratio of 11.60, a P/E/G ratio of 1.00 and a beta of 0.97. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $54.79 and its 200 day moving average is $54.29.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a report on Thursday, February 26th. Oppenheimer lifted their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Jefferies Financial Group restated a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Finally, Truist Financial reduced their price target on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate 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.