Sound View Wealth Advisors Group LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Sound View Wealth Advisors Group LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,855 shares of the financial services provider’s stock after selling 3,097 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in U.S. Bancorp were worth $567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in U.S. Bancorp by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock worth $80,659,000 after purchasing an additional 75,104 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $249,000. Verdence Capital Advisors LLC lifted its position in shares of U.S. Bancorp by 12.8% during the 3rd quarter. Verdence Capital Advisors LLC now owns 46,916 shares of the financial services provider’s stock worth $2,145,000 after buying an additional 5,308 shares during the last quarter. Essex Savings Bank boosted its holdings in shares of U.S. Bancorp by 2.9% in the 3rd quarter. Essex Savings Bank now owns 12,134 shares of the financial services provider’s stock valued at $555,000 after buying an additional 344 shares in the last quarter. Finally, Atria Investments Inc grew its position in shares of U.S. Bancorp by 14.4% in the 3rd quarter. Atria Investments Inc now owns 284,832 shares of the financial services provider’s stock valued at $13,025,000 after buying an additional 35,946 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley reduced their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Monday, January 13th. Barclays boosted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $54.21.

Insider Activity

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

U.S. Bancorp Price Performance

Shares of USB opened at $44.77 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The stock’s 50 day moving average is $47.54 and its two-hundred day moving average is $47.93. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market capitalization of $69.84 billion, a PE ratio of 11.81, a P/E/G ratio of 1.73 and a beta of 1.02.

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, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

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.