Private Advisor Group LLC Sells 29,088 Shares of U.S. Bancorp (NYSE:USB)

Private Advisor Group LLC lessened its position in U.S. Bancorp (NYSE:USB) by 23.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 93,514 shares of the financial services provider’s stock after selling 29,088 shares during the period. Private Advisor Group LLC’s holdings in U.S. Bancorp were worth $4,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Summit Trail Advisors LLC increased its stake in shares of U.S. Bancorp by 12.2% during the fourth quarter. Summit Trail Advisors LLC now owns 15,352 shares of the financial services provider’s stock valued at $672,000 after buying an additional 1,664 shares during the period. TCI Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $212,000. NTV Asset Management LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at about $258,000. Avidian Wealth Solutions LLC raised its stake in U.S. Bancorp by 26.1% in the fourth quarter. Avidian Wealth Solutions LLC now owns 10,105 shares of the financial services provider’s stock worth $437,000 after buying an additional 2,089 shares in the last quarter. Finally, Alan B Lancz & Associates Inc. purchased a new stake in U.S. Bancorp in the fourth quarter worth about $206,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $41.54 on Friday. The firm’s 50 day simple moving average is $42.36 and its two-hundred day simple moving average is $40.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $64.82 billion, a P/E ratio of 13.76, a P/E/G ratio of 2.16 and a beta of 1.05. U.S. Bancorp has a 1-year low of $28.53 and a 1-year 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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business posted $1.16 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.84 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently weighed in on USB. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Oppenheimer decreased their target price on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. UBS Group lowered their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, StockNews.com cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.02.

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.