West Oak Capital LLC Trims Stock Position in U.S. Bancorp (NYSE:USB)

West Oak Capital LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 33.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 25,228 shares of the financial services provider’s stock after selling 12,513 shares during the period. West Oak Capital LLC’s holdings in U.S. Bancorp were worth $1,063,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Scotia Capital Inc. boosted its stake in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the last quarter. National Bank of Canada FI lifted its holdings in U.S. Bancorp by 292.1% in the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock valued at $44,555,000 after acquiring an additional 1,032,866 shares during the period. Tealwood Asset Management Inc. boosted its position in U.S. Bancorp by 33.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after purchasing an additional 15,665 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of U.S. Bancorp by 19.4% during the 3rd quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock worth $286,874,000 after purchasing an additional 1,410,324 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of U.S. Bancorp by 104.3% during the 4th quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock valued at $4,548,000 after purchasing an additional 53,653 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB traded up $0.65 during trading on Thursday, hitting $44.65. 1,902,170 shares of the stock were exchanged, compared to its average volume of 8,998,626. The firm has a market capitalization of $69.57 billion, a P/E ratio of 13.59, a PEG ratio of 2.24 and a beta of 1.04. The stock has a fifty day moving average price of $41.92 and a two-hundred day moving average price of $38.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.39%. U.S. Bancorp’s payout ratio is currently 59.76%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total value of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timothy A. Welsh sold 12,100 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The disclosure for this sale can be found here. Insiders have sold a total of 60,265 shares of company stock worth $2,535,903 in the last quarter. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on USB shares. UBS Group increased their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Stephens lowered shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Barclays lifted their price target on U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. The Goldman Sachs Group increased their price target on U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Finally, Piper Sandler restated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.41.

U.S. Bancorp Company 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.