Concord Wealth Partners Decreases Holdings in U.S. Bancorp (NYSE:USB)

Concord Wealth Partners cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,897 shares of the financial services provider’s stock after selling 1,169 shares during the period. Concord Wealth Partners’ holdings in U.S. Bancorp were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Mufg Bank LTD. raised its holdings in shares of U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after buying an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC lifted its position in U.S. Bancorp by 266.6% during the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares during the period. Vanguard Group Inc. raised its position in U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after buying an additional 6,479,642 shares during the last quarter. Barclays PLC raised its holdings in shares of U.S. Bancorp by 120.4% during the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after purchasing an additional 4,813,976 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at about $65,684,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on USB shares. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Jefferies Financial Group raised their price objective on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. UBS Group reduced their price objective on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Morgan Stanley lifted their target price 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. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.02.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $41.05 on Thursday. The stock’s 50-day moving average is $42.33 and its two-hundred day moving average is $40.34. 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 cap of $63.96 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.11 and a beta 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 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 business had revenue of $6.72 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. Analysts forecast that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

About U.S. Bancorp

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.