OLD National Bancorp IN Trims Position in U.S. Bancorp (NYSE:USB)

OLD National Bancorp IN trimmed its holdings in U.S. Bancorp (NYSE:USB) by 13.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,127 shares of the financial services provider’s stock after selling 3,901 shares during the quarter. OLD National Bancorp IN’s holdings in U.S. Bancorp were worth $1,044,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mosaic Family Wealth Partners LLC raised its holdings in U.S. Bancorp by 1.4% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 265 shares in the last quarter. Wealth Alliance raised its holdings in U.S. Bancorp by 0.5% during the fourth quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 266 shares in the last quarter. Perkins Capital Management Inc. raised its holdings in U.S. Bancorp by 2.0% during the third quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 300 shares in the last quarter. Cigna Investments Inc. New raised its holdings in U.S. Bancorp by 1.9% during the fourth quarter. Cigna Investments Inc. New now owns 16,632 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 308 shares in the last quarter. Finally, Essex Savings Bank raised its holdings in U.S. Bancorp by 2.7% during the fourth quarter. Essex Savings Bank now owns 11,685 shares of the financial services provider’s stock worth $506,000 after purchasing an additional 309 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Royal Bank of Canada upped their target price on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Jefferies Financial Group increased their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Finally, StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $46.14.

U.S. Bancorp Stock Performance

Shares of USB opened at $40.96 on Wednesday. The firm’s 50 day moving average is $42.34 and its 200-day moving average is $40.03. The stock has a market capitalization of $63.82 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. 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 released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period last year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

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.