U.S. Bancorp (NYSE:USB) Stock Holdings Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in U.S. Bancorp (NYSE:USB) by 9.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 443,108 shares of the financial services provider’s stock after selling 44,161 shares during the quarter. Thrivent Financial for Lutherans’ holdings in U.S. Bancorp were worth $21,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in USB. FMR LLC lifted its position in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Franklin Resources Inc. raised its position in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Raymond James Financial Inc. bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $184,733,000. Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock valued at $2,381,443,000 after acquiring an additional 2,460,845 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $111,274,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the sale, the insider now owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.2 %

Shares of U.S. Bancorp stock opened at $42.58 on Friday. The company’s fifty day simple moving average is $46.40 and its 200-day simple moving average is $47.66. The company has a market cap of $66.34 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.73 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.70%. U.S. Bancorp’s dividend payout ratio is currently 52.77%.

Analysts Set New Price Targets

Several brokerages recently weighed in on USB. Morgan Stanley cut their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Barclays raised their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a research report on Thursday, December 19th. Finally, Truist Financial assumed coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $53.93.

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.