Prana Capital Management LP Sells 397,802 Shares of U.S. Bancorp (NYSE:USB)

Prana Capital Management LP cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,187,890 shares of the financial services provider’s stock after selling 397,802 shares during the period. U.S. Bancorp accounts for approximately 5.0% of Prana Capital Management LP’s holdings, making the stock its 5th biggest holding. Prana Capital Management LP owned about 0.14% of U.S. Bancorp worth $104,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FIL Ltd increased its stake in U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 8,542 shares in the last quarter. Vanguard Group Inc. grew its stake in U.S. Bancorp by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 138,836,896 shares of the financial services provider’s stock valued at $6,640,569,000 after acquiring an additional 1,079,056 shares during the period. M&T Bank Corp increased its holdings in shares of U.S. Bancorp by 36.9% in the fourth quarter. M&T Bank Corp now owns 1,158,848 shares of the financial services provider’s stock worth $55,427,000 after acquiring an additional 312,504 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of U.S. Bancorp by 11.3% during the fourth quarter. D.A. Davidson & CO. now owns 380,767 shares of the financial services provider’s stock worth $18,212,000 after purchasing an additional 38,802 shares during the period. Finally, Swedbank AB raised its position in shares of U.S. Bancorp by 2.4% during the fourth quarter. Swedbank AB now owns 554,489 shares of the financial services provider’s stock worth $26,521,000 after purchasing an additional 13,223 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on USB shares. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 price objective for the company in a report on Thursday, April 3rd. Barclays reduced their price objective on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada lowered their target price on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Citigroup reduced their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Truist Financial decreased their price target on 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $50.48.

U.S. Bancorp Price Performance

USB stock opened at $44.20 on Thursday. The firm has a 50-day moving average of $40.68 and a 200 day moving average of $46.07. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market cap of $68.86 billion, a P/E ratio of 11.66, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 the consensus estimate of $6.92 billion. During the same quarter last year, the firm earned $0.78 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued 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 4.52%. U.S. Bancorp’s payout ratio is 49.50%.

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.