Swiss Life Asset Management Ltd Decreases Holdings in U.S. Bancorp $USB

Swiss Life Asset Management Ltd trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 971,849 shares of the financial services provider’s stock after selling 254,804 shares during the period. Swiss Life Asset Management Ltd’s holdings in U.S. Bancorp were worth $51,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the third quarter worth about $25,000. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $25,000. JPL Wealth Management LLC acquired a new stake in U.S. Bancorp during the third quarter worth about $28,000. Finally, Binnacle Investments Inc increased its position in U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $55.52 on Monday. U.S. Bancorp has a 1-year low of $41.81 and a 1-year high of $61.19. The stock has a market cap of $86.18 billion, a PE ratio of 11.64, a P/E/G ratio of 1.00 and a beta of 1.00. The firm has a 50-day simple moving average of $54.05 and a two-hundred day simple moving average of $53.16. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. U.S. Bancorp’s payout ratio is 43.61%.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider owned 207,251 shares of the company’s stock, valued at $11,813,307. This trade represents a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Argus lifted their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial dropped their price target on shares of U.S. Bancorp from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

U.S. Bancorp Company Profile

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.