U.S. Bancorp $USB Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 494,795 shares of the financial services provider’s stock after selling 29,734 shares during the quarter. Alps Advisors Inc.’s holdings in U.S. Bancorp were worth $26,402,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in USB. Financial Life Planners bought a new position in U.S. Bancorp during the third quarter worth $25,000. Clayton Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth $25,000. JPL Wealth Management LLC bought a new position in U.S. Bancorp during the third quarter worth $28,000. Binnacle Investments Inc lifted its stake in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the last quarter. Finally, Westfuller Advisors LLC lifted its stake in U.S. Bancorp by 54.7% during the fourth quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 215 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Truist Financial reduced their price objective on U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. DA Davidson restated a “buy” rating and set a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Barclays raised their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. reduced their price objective on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Transactions at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

USB stock opened at $57.66 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $89.44 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.02 and a beta of 0.97. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19. The stock’s fifty day moving average is $55.12 and its two-hundred day moving average is $54.50.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.55% and a net margin of 18.01%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5.09 EPS for the current year.

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.