OLD National Bancorp IN Decreases Stock Position in U.S. Bancorp (NYSE:USB)

OLD National Bancorp IN lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 13.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 24,127 shares of the financial services provider’s stock after selling 3,901 shares during the period. OLD National Bancorp IN’s holdings in U.S. Bancorp were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mosaic Family Wealth Partners LLC raised its holdings in U.S. Bancorp by 1.4% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock valued at $832,000 after buying an additional 265 shares during the period. Wealth Alliance increased its stake in U.S. Bancorp by 0.5% in the 4th quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after buying an additional 266 shares during the period. Perkins Capital Management Inc. grew its stake in U.S. Bancorp by 2.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 300 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of U.S. Bancorp by 1.9% during the fourth quarter. Cigna Investments Inc. New now owns 16,632 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 308 shares during the period. Finally, Essex Savings Bank raised its stake in shares of U.S. Bancorp by 2.7% during the fourth quarter. Essex Savings Bank now owns 11,685 shares of the financial services provider’s stock valued at $506,000 after acquiring an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $40.96 on Wednesday. The firm has a market capitalization of $63.82 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The business has a fifty day moving average of $42.34 and a 200 day moving average of $40.03. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a yield of 4.79%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 21,582 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The disclosure for this sale can be found here. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on USB. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a research note on Friday, January 26th. TheStreet raised U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $49.00 in a research note on Friday, March 22nd. Evercore ISI increased their price objective on U.S. Bancorp from $46.00 to $48.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, Oppenheimer dropped their price objective on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.14.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.