Bragg Financial Advisors Inc Has $297,000 Stake in U.S. Bancorp (NYSE:USB)

Bragg Financial Advisors Inc reduced its stake in U.S. Bancorp (NYSE:USB) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,202 shares of the financial services provider’s stock after selling 1,290 shares during the period. Bragg Financial Advisors Inc’s holdings in U.S. Bancorp were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Winch Advisory Services LLC raised its position in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 490 shares during the last quarter. J.Safra Asset Management Corp bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $26,000. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the 4th quarter valued at approximately $28,000. Global Wealth Strategies & Associates grew its holdings in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 0.7 %

NYSE USB opened at $38.14 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business has a 50 day moving average price of $43.28 and a 200-day moving average price of $46.98. The company has a market cap of $59.42 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 1.73 and a beta of 0.91.

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

U.S. Bancorp Announces Dividend

The business 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 5.24%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 30,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now owns 99,790 shares of the company’s stock, valued at $4,749,006.10. The trade was a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock worth $10,385,665. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company decreased their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. Oppenheimer lifted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Finally, Piper Sandler upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.52.

U.S. Bancorp Company 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.