Meridian Financial Partners LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Meridian Financial Partners LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,004 shares of the financial services provider’s stock after selling 959 shares during the quarter. Meridian Financial Partners LLC’s holdings in U.S. Bancorp were worth $1,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of U.S. Bancorp by 25.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 13,464 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 2,720 shares during the period. Park Avenue Securities LLC increased its holdings in shares of U.S. Bancorp by 17.9% in the fourth quarter. Park Avenue Securities LLC now owns 174,861 shares of the financial services provider’s stock valued at $8,364,000 after purchasing an additional 26,566 shares during the period. Kathmere Capital Management LLC raised its stake in shares of U.S. Bancorp by 7.1% in the fourth quarter. Kathmere Capital Management LLC now owns 9,281 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 618 shares during the last quarter. Oak Thistle LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at approximately $339,000. Finally, R.H. Investment Group LLC acquired a new position in U.S. Bancorp in the 4th quarter worth approximately $3,872,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on USB. Barclays increased their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial started coverage on U.S. Bancorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $54.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Stephens upped their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.07.

U.S. Bancorp Trading Up 1.4 %

USB opened at $49.08 on Wednesday. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The company’s 50 day simple moving average is $50.25 and its two-hundred day simple moving average is $46.68. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. U.S. Bancorp’s payout ratio is 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

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.