Harvest Fund Management Co. Ltd Sells 451 Shares of U.S. Bancorp (NYSE:USB)

Harvest Fund Management Co. Ltd lowered its position in shares of U.S. Bancorp (NYSE:USB) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,261 shares of the financial services provider’s stock after selling 451 shares during the period. Harvest Fund Management Co. Ltd’s holdings in U.S. Bancorp were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of USB. CGC Financial Services LLC bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new stake in U.S. Bancorp in the fourth quarter worth $26,000. Planned Solutions Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $27,000. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at about $30,000. Finally, Naples Money Management LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at about $30,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the company’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 value of $895,005.54. Following the transaction, the executive vice president now directly 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 is accessible through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $41.56 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $64.76 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.12 and a beta of 1.05. The business’s 50 day moving average price is $42.36 and its 200-day moving average price is $40.04. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price target on U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Morgan Stanley raised their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. Finally, UBS Group cut their target price on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.14.

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.