Wright Investors Service Inc. Sells 12,607 Shares of U.S. Bancorp (NYSE:USB)

Wright Investors Service Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 67.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,948 shares of the financial services provider’s stock after selling 12,607 shares during the quarter. Wright Investors Service Inc.’s holdings in U.S. Bancorp were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of USB. Global Wealth Strategies & Associates grew its stake in shares of U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth $25,000. Frazier Financial Advisors LLC boosted its position in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at $38,000. Finally, First Financial Corp IN acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at $41,000. 77.60% of the stock is owned by institutional investors.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.38 on Tuesday. The firm’s 50 day moving average price is $50.22 and its two-hundred day moving average price is $46.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The firm has a market cap of $75.47 billion, a P/E ratio of 14.80, a PEG ratio of 3.01 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. U.S. Bancorp’s payout ratio is presently 61.16%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial initiated coverage on U.S. Bancorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $54.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Finally, DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price target for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.07.

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.