Shulman DeMeo Asset Management LLC Trims Stock Position in U.S. Bancorp (NYSE:USB)

Shulman DeMeo Asset Management LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,401 shares of the financial services provider’s stock after selling 381 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in U.S. Bancorp were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Natixis Advisors LLC boosted its holdings in shares of U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $1,018,000. M&T Bank Corp grew its holdings in shares of U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the last quarter. Hilltop Holdings Inc. boosted its position in U.S. Bancorp by 184.3% during the third quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of U.S. Bancorp by 544.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after buying an additional 11,737 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on USB shares. 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. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Thursday, January 2nd. Oppenheimer cut their target price on shares of U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $54.07.

U.S. Bancorp Price Performance

NYSE USB opened at $48.07 on Friday. The firm’s fifty day simple moving average is $50.25 and its two-hundred day simple moving average is $46.71. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a market capitalization of $74.98 billion, a P/E ratio of 14.70, a P/E/G ratio of 2.47 and a beta of 1.05. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. Analysts forecast that U.S. Bancorp will post 3.91 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

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.