U.S. Bancorp (NYSE:USB) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 59,613 shares of the financial services provider’s stock after selling 2,335 shares during the period. Cullen Frost Bankers Inc.’s holdings in U.S. Bancorp were worth $2,851,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of USB. State Street Corp boosted its holdings in U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock worth $3,110,115,000 after buying an additional 819,805 shares during the last quarter. FMR LLC boosted its holdings in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in U.S. Bancorp by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 49,789,725 shares of the financial services provider’s stock worth $2,381,443,000 after buying an additional 2,460,845 shares during the last quarter. Geode Capital Management LLC boosted its holdings in U.S. Bancorp by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after buying an additional 599,852 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in U.S. Bancorp by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,235,426 shares of the financial services provider’s stock worth $513,796,000 after buying an additional 436,252 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on USB. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Compass Point lifted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $60.00 in a report on Thursday, January 2nd. Morgan Stanley lowered their target price on U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Oppenheimer boosted their target price on U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 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.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

U.S. Bancorp Stock Up 0.9 %

Shares of NYSE USB opened at $44.77 on Friday. The firm has a market cap of $69.84 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.73 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The business’s 50 day moving average is $47.54 and its two-hundred day moving average is $47.87.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.99 earnings per share. Research analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.47%. 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 other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the business’s 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 sale, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 99,790 shares of the company’s stock, 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. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last quarter. 0.23% of the stock is owned by company insiders.

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.