U.S. Bancorp (NYSE:USB) Stock Position Reduced by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. trimmed its position in U.S. Bancorp (NYSE:USB) by 8.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,701 shares of the financial services provider’s stock after selling 4,175 shares during the quarter. Cardinal Capital Management Inc.’s holdings in U.S. Bancorp were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Core Alternative Capital lifted its position in shares of U.S. Bancorp by 85.7% in the 1st quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock worth $27,000 after buying an additional 342 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in U.S. Bancorp by 46.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the period. Thompson Investment Management Inc. bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth approximately $29,000. Finally, AXS Investments LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $33,000. 75.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. Odeon Capital Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Barclays reduced their target price on shares of U.S. Bancorp from $52.00 to $48.00 in a research note on Tuesday, June 27th. Credit Suisse Group restated a “neutral” rating and issued a $44.00 price target on shares of U.S. Bancorp in a research note on Thursday, July 20th. Wedbush boosted their price objective on U.S. Bancorp from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Finally, Piper Sandler lowered their target price on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.71.

Insider Activity at U.S. Bancorp

In related news, CFO Terrance R. Dolan sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the transaction, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares in the company, valued at approximately $4,737,317.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total value of $1,033,500.00. Following the transaction, the chief financial officer now owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

U.S. Bancorp Stock Down 1.6 %

Shares of USB traded down $0.57 during mid-day trading on Friday, reaching $35.15. The company’s stock had a trading volume of 46,217,261 shares, compared to its average volume of 14,275,460. The company has a market cap of $53.88 billion, a price-to-earnings ratio of 9.74, a price-to-earnings-growth ratio of 1.58 and a beta of 0.98. The business has a fifty day moving average of $37.23 and a 200 day moving average of $35.35. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 4.44 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 5.46%. U.S. Bancorp’s dividend payout ratio is 53.19%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.