Kestra Advisory Services LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,323 shares of the financial services provider’s stock after selling 7,422 shares during the quarter. Kestra Advisory Services LLC’s holdings in U.S. Bancorp were worth $6,787,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BCK Partners Inc. purchased a new stake in U.S. Bancorp in the first quarter worth about $2,514,000. Acadian Asset Management LLC grew its stake in shares of U.S. Bancorp by 3.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 276 shares during the period. Vontobel Holding Ltd. grew its position in shares of U.S. Bancorp by 20.8% during the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 3,663 shares in the last quarter. Prudential PLC bought a new position in U.S. Bancorp during the first quarter valued at approximately $1,731,000. Finally, Candriam Luxembourg S.C.A. grew its position in U.S. Bancorp by 5.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after acquiring an additional 4,827 shares in the last quarter. 71.83% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at U.S. Bancorp
In other news, insider Gillern Jeffry H. Von sold 27,183 shares of U.S. Bancorp stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $43.99, for a total transaction of $1,195,780.17. Following the completion of the sale, the insider now directly owns 128,204 shares in the company, valued at approximately $5,639,693.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Gillern Jeffry H. Von sold 27,183 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $43.99, for a total value of $1,195,780.17. Following the completion of the sale, the insider now directly owns 128,204 shares of the company’s stock, valued at $5,639,693.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Cecere sold 84,948 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $43.51, for a total transaction of $3,696,087.48. Following the transaction, the chief executive officer now directly owns 956,742 shares of the company’s stock, valued at approximately $41,627,844.42. The disclosure for this sale can be found here. Insiders have sold a total of 139,249 shares of company stock valued at $6,064,745 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on USB shares. DA Davidson initiated coverage on U.S. Bancorp in a research report on Tuesday, December 20th. They set a “neutral” rating and a $47.00 target price for the company. Wolfe Research lowered shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Thursday, December 1st. Barclays upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $62.00 to $68.00 in a research note on Tuesday, January 3rd. Morgan Stanley dropped their price target on shares of U.S. Bancorp from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 6th. Finally, Piper Sandler reduced their target price on shares of U.S. Bancorp to $45.00 in a research report on Thursday, September 29th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.67.
U.S. Bancorp Trading Up 0.2 %
U.S. Bancorp stock opened at $47.44 on Wednesday. U.S. Bancorp has a 12-month low of $38.39 and a 12-month high of $63.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.77 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $44.27 and a 200-day simple moving average of $44.70. The stock has a market capitalization of $70.49 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.95.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a $0.48 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.05%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 45.61%.
U.S. Bancorp Company Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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