Los Angeles Capital Management LLC Sells 329,824 Shares of U.S. Bancorp $USB

Los Angeles Capital Management LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 27.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 886,567 shares of the financial services provider’s stock after selling 329,824 shares during the period. Los Angeles Capital Management LLC’s holdings in U.S. Bancorp were worth $47,307,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the period. State Street Corp boosted its position in shares of U.S. Bancorp by 0.9% during the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after buying an additional 648,943 shares during the period. Geode Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after buying an additional 443,646 shares during the period. Norges Bank bought a new position in shares of U.S. Bancorp during the fourth quarter worth about $1,887,497,000. Finally, Davis Selected Advisers raised its position in U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on USB shares. Piper Sandler restated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Wall Street Zen lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.20.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction 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 transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following 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. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $55.70 on Friday. The firm has a market cap of $86.39 billion, a PE ratio of 11.68, a P/E/G ratio of 1.00 and a beta of 0.97. U.S. Bancorp has a 12 month low of $42.55 and a 12 month high of $61.19. The company’s fifty day simple moving average is $54.71 and its 200-day simple moving average is $54.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. Equities research analysts expect that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

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.