Studio Investment Management LLC Lowers Stock Position in U.S. Bancorp $USB

Studio Investment Management LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 41.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,541 shares of the financial services provider’s stock after selling 12,332 shares during the period. Studio Investment Management LLC’s holdings in U.S. Bancorp were worth $861,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 0.9% during the third quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock worth $6,986,023,000 after buying an additional 1,279,104 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after acquiring an additional 456,890 shares in the last quarter. Norges Bank purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $971,285,000. Davis Selected Advisers grew its position in U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in U.S. Bancorp by 3.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $58.79 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $55.79 and a 200-day simple moving average of $50.62. The stock has a market cap of $91.38 billion, a P/E ratio of 12.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.5%. U.S. Bancorp’s payout ratio is presently 45.02%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a report on Thursday, October 23rd. Royal Bank Of Canada raised their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Evercore upped their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Finally, Truist Financial increased their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the company a “hold” rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $59.79.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

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.