Kayne Anderson Rudnick Investment Management LLC Has $2.33 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,683 shares of the financial services provider’s stock after selling 6,448 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in U.S. Bancorp were worth $2,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $777,524,000. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock worth $802,947,000 after acquiring an additional 5,449,949 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of U.S. Bancorp by 153.0% in the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares during the last quarter. Marshall Wace LLP boosted its holdings in U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in U.S. Bancorp in the 4th quarter worth about $184,733,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the completion of the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew Cecere sold 102,044 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This trade represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,812 shares of company stock valued at $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $37.85 on Tuesday. The business has a 50-day simple moving average of $42.35 and a 200 day simple moving average of $46.76. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market cap of $58.97 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the company earned $0.78 EPS. On average, research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 5.28%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Bank of America lowered their price objective on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Truist Financial decreased their price target on shares of U.S. Bancorp from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Company 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.