Cetera Investment Advisers Trims Stake in U.S. Bancorp $USB

Cetera Investment Advisers reduced its stake in U.S. Bancorp (NYSE:USB) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 825,796 shares of the financial services provider’s stock after selling 13,656 shares during the quarter. Cetera Investment Advisers owned approximately 0.05% of U.S. Bancorp worth $42,950,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of USB. Norges Bank purchased a new stake in U.S. Bancorp in the fourth quarter worth about $1,887,497,000. Auto Owners Insurance Co lifted its position in shares of U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. Capital Research Global Investors bought a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $296,377,000. Price T Rowe Associates Inc. MD grew its stake in shares of U.S. Bancorp by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in U.S. Bancorp by 63.2% in the 4th quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock worth $505,866,000 after acquiring an additional 3,672,742 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were 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 in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Up 0.9%

Shares of USB opened at $63.91 on Friday. The firm has a market cap of $99.14 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. The company has a 50 day simple moving average of $58.89 and a two-hundred day simple moving average of $56.42.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is currently 41.52%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Truist Financial increased their price objective on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Stephens raised their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Raymond James Financial started coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 target price on the stock. Finally, Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.