Pinnacle Wealth Planning Services Inc. Lowers Position in U.S. Bancorp (NYSE:USB)

Pinnacle Wealth Planning Services Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 18.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,839 shares of the financial services provider’s stock after selling 1,574 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in U.S. Bancorp were worth $327,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. J.Safra Asset Management Corp purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $26,000. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the period. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates boosted its holdings in U.S. Bancorp by 70.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $44.41 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market capitalization of $69.27 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02. The stock’s 50-day simple moving average is $47.61 and its 200-day simple moving average is $47.86.

U.S. Bancorp (NYSE:USB) last released 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 firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.50%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares in the company, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total value of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their ownership of the stock. 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. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. Raymond James upgraded 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. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Monday, January 13th. Finally, Oppenheimer raised their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.21.

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.