Nuveen Asset Management LLC Sells 58,203 Shares of U.S. Bancorp (NYSE:USB)

Nuveen Asset Management LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 1.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,252,234 shares of the financial services provider’s stock after selling 58,203 shares during the period. Nuveen Asset Management LLC’s holdings in U.S. Bancorp were worth $155,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC raised its position in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth $26,000. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp in the 4th quarter worth $28,000. Stonebridge Financial Group LLC purchased a new position in U.S. Bancorp during the fourth quarter valued at $30,000. Finally, Picton Mahoney Asset Management purchased a new position in U.S. Bancorp during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB opened at $44.51 on Friday. The business’s 50-day moving average is $40.72 and its 200 day moving average is $46.04. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98. The company has a market capitalization of $69.35 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.73 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same period in the prior year, the firm earned $0.78 EPS. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s payout ratio is 49.50%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on USB shares. Barclays decreased their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. DA Davidson decreased their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Wells Fargo & Company lowered their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. TD Cowen began coverage on shares of U.S. Bancorp in a research report on Thursday. They issued a “buy” rating and a $60.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.89.

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.