Welch & Forbes LLC Has $1.64 Million Stake in U.S. Bancorp (NYSE:USB)

Welch & Forbes LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 71.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,767 shares of the financial services provider’s stock after selling 94,633 shares during the period. Welch & Forbes LLC’s holdings in U.S. Bancorp were worth $1,635,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in USB. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $25,000. BKM Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $27,000. Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter valued at $30,000. Finally, Friedenthal Financial acquired a new position in U.S. Bancorp during the fourth quarter worth $46,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.7 %

Shares of USB stock traded down $0.31 during trading hours on Wednesday, reaching $41.27. The company had a trading volume of 2,672,254 shares, compared to its average volume of 8,476,884. The business has a fifty day simple moving average of $42.35 and a 200-day simple moving average of $40.64. U.S. Bancorp has a 12 month low of $28.53 and a 12 month high of $45.85. The company has a market cap of $64.40 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 2.16 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.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 3.84 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

Insider Transactions at U.S. Bancorp

In related news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $45.00 price objective (down from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Morgan Stanley raised their price target on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Finally, Oppenheimer dropped their price objective on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $46.02.

About U.S. Bancorp

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.