Merit Financial Group LLC Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Merit Financial Group LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,447 shares of the financial services provider’s stock after selling 1,434 shares during the quarter. Merit Financial Group LLC’s holdings in U.S. Bancorp were worth $1,412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $28,000. Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $30,000. Picton Mahoney Asset Management purchased a new stake in U.S. Bancorp in the fourth quarter worth approximately $30,000. Finally, REAP Financial Group LLC boosted its holdings in U.S. Bancorp by 86.1% in the fourth quarter. REAP Financial Group LLC now owns 642 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, Director Aleem Gillani purchased 5,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at $559,800. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.5%

USB opened at $44.76 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The firm’s fifty day moving average is $41.15 and its 200 day moving average is $45.40. The stock has a market cap of $69.74 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.

U.S. Bancorp (NYSE:USB) last released 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 company had revenue of $6.96 billion for 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, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s payout ratio is currently 49.50%.

Analyst Ratings Changes

USB has been the topic of several research reports. JPMorgan Chase & Co. restated an “underweight” rating and issued a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. Piper Sandler dropped their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Cowen initiated coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. Finally, DA Davidson dropped 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 report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.67.

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.