BI Asset Management Fondsmaeglerselskab A S Sells 20,989 Shares of U.S. Bancorp $USB

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of U.S. Bancorp (NYSE:USB) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,154 shares of the financial services provider’s stock after selling 20,989 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in U.S. Bancorp were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in U.S. Bancorp during the 3rd quarter worth $25,000. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the third quarter valued at about $28,000. Binnacle Investments Inc grew its stake in shares of U.S. Bancorp by 77.8% in the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares in the last quarter. Finally, Rossby Financial LCC grew its stake in shares of U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred 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 directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Up 0.8%

NYSE USB opened at $58.62 on Tuesday. The business has a fifty day moving average price of $55.73 and a two-hundred day moving average price of $54.96. 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 has a fifty-two week low of $42.93 and a fifty-two week high of $61.19. The stock has a market capitalization of $90.93 billion, a PE ratio of 12.29, a PEG ratio of 1.01 and a beta of 0.97.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the company posted $1.03 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.5%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. Oppenheimer raised their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Truist Financial dropped their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, DA Davidson reissued a “buy” rating and set a $65.00 price target on shares of U.S. Bancorp in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

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.