ProShare Advisors LLC Sells 32,451 Shares of U.S. Bancorp $USB

ProShare Advisors LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 9.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 312,298 shares of the financial services provider’s stock after selling 32,451 shares during the period. ProShare Advisors LLC’s holdings in U.S. Bancorp were worth $15,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. Geode Capital Management LLC raised its position in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after buying an additional 456,890 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers boosted its position in shares of U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in U.S. Bancorp by 3.7% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock valued at $749,766,000 after acquiring an additional 585,968 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Truist Financial upped their price objective on U.S. Bancorp from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, January 21st. TD Cowen raised their price objective on U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. HSBC reiterated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday, January 7th. Finally, Citigroup increased their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.79.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $60.60 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $94.20 billion, a PE ratio of 13.12, a PEG ratio of 1.08 and a beta of 1.06. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $60.99. The business has a 50-day simple moving average of $55.01 and a two-hundred day simple moving average of $50.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.