Corundum Group Inc. Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Corundum Group Inc. cut its holdings in U.S. Bancorp (NYSE:USB) by 7.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,723 shares of the financial services provider’s stock after selling 1,684 shares during the quarter. Corundum Group Inc.’s holdings in U.S. Bancorp were worth $854,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of USB. Scotia Capital Inc. increased its stake in shares of U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares in the last quarter. National Bank of Canada FI boosted its holdings in U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after acquiring an additional 1,032,866 shares in the last quarter. Tealwood Asset Management Inc. increased its holdings in shares of U.S. Bancorp by 33.4% during the fourth quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock valued at $2,707,000 after acquiring an additional 15,665 shares in the last quarter. Van ECK Associates Corp raised its holdings in U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after buying an additional 1,410,324 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in U.S. Bancorp by 104.3% in the 4th quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock worth $4,548,000 after acquiring an additional 53,653 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. Insiders have sold 60,265 shares of company stock worth $2,535,903 in the last quarter. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $42.92 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $66.87 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.23 and a beta of 1.05. The firm’s 50 day simple moving average is $42.21 and its 200-day simple moving average is $39.15. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the prior year, the firm posted $1.20 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s payout ratio is 59.76%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on USB shares. UBS Group lifted their price objective on U.S. Bancorp from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Oppenheimer reduced their target price on shares of U.S. Bancorp from $61.00 to $55.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.41.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.