U.S. Bancorp (NYSE:USB) Shares Sold by Rice Partnership LLC

Rice Partnership LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 40.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 97,723 shares of the financial services provider’s stock after selling 67,660 shares during the quarter. Rice Partnership LLC’s holdings in U.S. Bancorp were worth $4,674,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Brooklyn Investment Group lifted its position in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after buying an additional 201 shares during the last quarter. McAdam LLC increased its holdings in shares of U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 209 shares during the period. HCR Wealth Advisors increased its holdings in shares of U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after acquiring an additional 211 shares during the period. Priebe Wealth Holdings LLC increased its holdings in shares of U.S. Bancorp by 4.4% in the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares during the period. Finally, Essex Savings Bank increased its holdings in shares of U.S. Bancorp by 1.8% in the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 216 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Raymond James raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research note on Thursday, December 19th. DA Davidson raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $58.00 to $60.00 in a research note on Thursday, January 2nd. Evercore ISI raised their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Truist Financial started coverage on shares of U.S. Bancorp in a research note on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.21.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.84 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $74.63 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.77 and a beta of 1.04. The company has a 50-day moving average of $49.71 and a two-hundred day moving average of $47.39. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 4.37 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.18%. The ex-dividend date was Tuesday, December 31st. U.S. Bancorp’s payout ratio is presently 52.77%.

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.