Beacon Financial Group Reduces Holdings in U.S. Bancorp (NYSE:USB)

Beacon Financial Group cut its stake in U.S. Bancorp (NYSE:USB) by 4.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,076 shares of the financial services provider’s stock after selling 306 shares during the quarter. Beacon Financial Group’s holdings in U.S. Bancorp were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares during the last quarter. McAdam LLC lifted its stake in U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares during the last quarter. HCR Wealth Advisors boosted its holdings in shares of U.S. Bancorp by 1.1% in the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock valued at $962,000 after acquiring an additional 211 shares during the period. Priebe Wealth Holdings LLC grew its position in shares of U.S. Bancorp by 4.4% during the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares during the last quarter. Finally, Essex Savings Bank grew its position in shares of U.S. Bancorp by 1.8% during the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.1 %

USB stock opened at $47.52 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50 day simple moving average is $48.88 and its 200-day simple moving average is $47.50. 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 $74.13 billion, a PE ratio of 12.54, a P/E/G ratio of 1.77 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS 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 analysts’ expectations of $7 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. U.S. Bancorp’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at approximately $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jodi L. Richard sold 30,000 shares of the firm’s stock in a transaction that occurred 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 owns 99,790 shares in the company, valued at approximately $4,749,006.10. This trade represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on USB shares. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target on the stock in a report on Thursday, December 19th. 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 report on Monday, January 13th. Barclays increased their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

About U.S. Bancorp

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.