U.S. Bancorp $USB Shares Sold by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 21.9% during the first quarter, HoldingsChannel.com reports. The firm owned 505,210 shares of the financial services provider’s stock after selling 141,584 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in U.S. Bancorp were worth $26,276,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Inceptionr LLC increased its stake in shares of U.S. Bancorp by 424.4% during the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock valued at $1,473,000 after acquiring an additional 22,348 shares during the period. Danske Bank A S acquired a new stake in shares of U.S. Bancorp in the third quarter valued at $37,162,000. Nordea Investment Management AB boosted its stake in U.S. Bancorp by 15.3% during the fourth quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider’s stock valued at $144,462,000 after buying an additional 357,300 shares in the last quarter. Goodman Advisory Group LLC grew its holdings in U.S. Bancorp by 30.5% during the third quarter. Goodman Advisory Group LLC now owns 194,035 shares of the financial services provider’s stock worth $9,378,000 after acquiring an additional 45,365 shares during the period. Finally, Lighthouse Investment Partners LLC raised its position in U.S. Bancorp by 92.9% in the third quarter. Lighthouse Investment Partners LLC now owns 252,335 shares of the financial services provider’s stock worth $12,195,000 after acquiring an additional 121,529 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $60.46 on Wednesday. The stock has a 50 day simple moving average of $56.28 and a 200 day simple moving average of $55.34. The stock has a market cap of $93.78 billion, a P/E ratio of 12.67, a PEG ratio of 1.06 and a beta of 0.97. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $61.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

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

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s payout ratio is 43.61%.

Wall Street Analysts Forecast Growth

USB has been the subject of several recent analyst reports. Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Truist Financial boosted their target price on shares of U.S. Bancorp from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Sunday. DA Davidson reiterated a “buy” rating and issued a $65.00 price objective on shares of U.S. Bancorp in a research note on Friday, April 17th. Finally, Stephens assumed coverage on U.S. Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.57.

U.S. Bancorp 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.