Pacer Advisors Inc. Sells 14,712 Shares of U.S. Bancorp $USB

Pacer Advisors Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 153,268 shares of the financial services provider’s stock after selling 14,712 shares during the period. Pacer Advisors Inc.’s holdings in U.S. Bancorp were worth $8,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. Monetary Solutions Ltd bought a new position in U.S. Bancorp during the fourth quarter valued at $43,000. Kera Capital Partners Inc. bought a new stake in shares of U.S. Bancorp in the 4th quarter worth about $432,000. MV Capital Management Inc. bought a new stake in shares of U.S. Bancorp in the 4th quarter worth about $43,000. Cambient Family Office LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth about $274,000. Finally, Wick Capital Partners LLC bought a new position in U.S. Bancorp during the 4th quarter valued at about $42,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB stock opened at $58.07 on Monday. U.S. Bancorp has a 1-year low of $42.93 and a 1-year high of $61.19. The business has a 50-day moving average price of $55.69 and a 200 day moving average price of $54.90. The company has a market capitalization of $90.07 billion, a P/E ratio of 12.17, a PEG ratio of 1.01 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.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 43.61%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Barclays boosted their target price on U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Piper Sandler reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Jefferies Financial Group reiterated a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Thursday, April 16th. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.29.

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 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 completion of the sale, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% 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.