18,403 U.S. Bancorp $USB Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 63.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,630 shares of the financial services provider’s stock after selling 18,403 shares during the period. Pathway Financial Advisers LLC’s holdings in U.S. Bancorp were worth $614,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mufg Bank LTD. bought a new position in U.S. Bancorp during the second quarter worth $2,680,199,000. Bank of America Corp DE raised its position in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after purchasing an additional 1,022,898 shares during the period. Dimensional Fund Advisors LP raised its position in shares of U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $536,457,000. Finally, First Trust Advisors LP lifted its stake in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on USB. JPMorgan Chase & Co. lifted their target price on shares of U.S. Bancorp from $65.00 to $65.50 and gave the stock a “neutral” rating in a report on Friday, October 30th. Truist Financial lowered their price target on shares of U.S. Bancorp from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, October 1st. Oppenheimer raised their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of U.S. Bancorp in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $61.05 on Thursday. The stock has a market capitalization of $95.11 billion, a PE ratio of 11.67, a P/E/G ratio of 1.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The business has a fifty day moving average price of $59.77 and a two-hundred day moving average price of $58.13. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. During the same period in the prior year, the firm posted $1.22 EPS. U.S. Bancorp’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.5%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is 42.11%.

Insider Buying and Selling

In other news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.