First Citizens Bank & Trust Co. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 17.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,092 shares of the financial services provider’s stock after selling 1,277 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in U.S. Bancorp were worth $294,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in USB. WESPAC Advisors SoCal LLC purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $27,000. Executive Wealth Management LLC purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $27,000. Gantzert Investment Co. LLC ADV purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $32,000. ERTS Wealth Advisors LLC purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $36,000. Finally, Centerpoint Advisors LLC purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.
NYSE:USB opened at $50.28 on Wednesday. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $55.56. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $80.37 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a yield of 2.94%. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Barclays lifted their price objective on U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 2nd. Oppenheimer lifted their price objective on U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research report on Monday, January 28th. Finally, Jefferies Financial Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.08.
In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,737 shares of U.S. Bancorp stock in a transaction on Monday, February 4th. The stock was sold at an average price of $51.50, for a total value of $758,955.50. Following the sale, the insider now owns 61,737 shares in the company, valued at $3,179,455.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by insiders.
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U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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