Nicholas Hoffman & Company LLC. Sells 4,998 Shares of U.S. Bancorp (NYSE:USB)

Nicholas Hoffman & Company LLC. decreased its position in U.S. Bancorp (NYSE:USB) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,795 shares of the financial services provider’s stock after selling 4,998 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in U.S. Bancorp were worth $1,160,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in U.S. Bancorp by 86.5% in the fourth quarter. Lindbrook Capital LLC now owns 6,582 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 3,052 shares during the last quarter. abrdn plc boosted its holdings in U.S. Bancorp by 71.9% during the fourth quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after buying an additional 272,976 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in U.S. Bancorp by 8.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 12,989 shares of the financial services provider’s stock worth $562,000 after buying an additional 1,004 shares during the last quarter. Naples Money Management LLC bought a new position in U.S. Bancorp during the fourth quarter worth about $30,000. Finally, Resonant Capital Advisors LLC boosted its holdings in U.S. Bancorp by 493.9% during the fourth quarter. Resonant Capital Advisors LLC now owns 67,872 shares of the financial services provider’s stock worth $2,971,000 after buying an additional 56,444 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.6 %

U.S. Bancorp stock traded up $1.01 during midday trading on Friday, reaching $40.45. The stock had a trading volume of 12,061,759 shares, compared to its average volume of 6,861,925. The firm’s fifty day simple moving average is $42.32 and its 200-day simple moving average is $39.84. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The stock has a market capitalization of $63.03 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm earned $1.16 EPS. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analysts Set New Price Targets

A number of brokerages have issued reports on USB. DA Davidson reduced their target price on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday. Evercore ISI raised their target price on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a report on Thursday, March 28th. Jefferies Financial Group raised their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, UBS Group cut their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.14.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.