Tucker Asset Management LLC Lowers Stake in U.S. Bancorp (NYSE:USB)

Tucker Asset Management LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 16.4% in the fourth quarter, Holdings Channel reports. The firm owned 6,382 shares of the financial services provider’s stock after selling 1,255 shares during the period. Tucker Asset Management LLC’s holdings in U.S. Bancorp were worth $305,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Jodi L. Richard sold 30,000 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at $4,749,006.10. The trade was a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the sale, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock worth $10,385,665 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of USB opened at $42.21 on Friday. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock’s fifty day moving average is $45.74 and its 200-day moving average is $47.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on USB shares. Compass Point lifted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, March 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 note on Monday, January 13th. Finally, Bank of America dropped their price target on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.21.

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.