Royal Fund Management LLC Has $4.57 Million Position in U.S. Bancorp (NYSE:USB)

Royal Fund Management LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,566 shares of the financial services provider’s stock after selling 9,343 shares during the period. Royal Fund Management LLC’s holdings in U.S. Bancorp were worth $4,568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Scotia Capital Inc. boosted its position in U.S. Bancorp by 2.9% during the 3rd quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 990 shares during the period. Spinnaker Trust acquired a new position in U.S. Bancorp in the 4th quarter valued at approximately $220,000. Tealwood Asset Management Inc. lifted its position in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after buying an additional 15,665 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of U.S. Bancorp during the 4th quarter valued at $4,073,000. Finally, abrdn plc boosted its stake in shares of U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock valued at $28,236,000 after buying an additional 272,976 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the subject of several recent research reports. Oppenheimer cut their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. UBS Group cut their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group boosted their price target on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Finally, Compass Point upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.02.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded up $0.44 during midday trading on Friday, hitting $41.41. The company had a trading volume of 5,091,249 shares, compared to its average volume of 7,675,372. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The business’s 50 day simple moving average is $42.32 and its two-hundred day simple moving average is $40.41. The stock has a market cap of $64.62 billion, a PE ratio of 13.71, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.49 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.73%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.