Lincluden Management Ltd. Has $6.29 Million Position in U.S. Bancorp (NYSE:USB)

Lincluden Management Ltd. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,899 shares of the financial services provider’s stock after selling 4,758 shares during the period. U.S. Bancorp comprises approximately 0.8% of Lincluden Management Ltd.’s portfolio, making the stock its 26th largest position. Lincluden Management Ltd.’s holdings in U.S. Bancorp were worth $6,287,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Covestor Ltd boosted its holdings in shares of U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 214 shares during the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of U.S. Bancorp by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 10,355 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 231 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of U.S. Bancorp by 36.6% during the fourth quarter. CoreCap Advisors LLC now owns 904 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 242 shares in the last quarter. Bestgate Wealth Advisors LLC increased its position in shares of U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 253 shares during the last quarter. Finally, YANKCOM Partnership increased its position in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 260 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the sale, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

USB has been the topic of several research reports. Raymond James Financial raised U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $51.00 to $57.00 in a report on Monday, July 7th. Truist Financial boosted their target price on shares of U.S. Bancorp from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Citigroup boosted their target price on shares of U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Evercore ISI upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an “in-line” rating in a research report on Wednesday, June 4th. Finally, Barclays decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

U.S. Bancorp Stock Up 0.3%

U.S. Bancorp stock traded up $0.13 during midday trading on Thursday, hitting $46.42. 1,069,799 shares of the stock were exchanged, compared to its average volume of 10,912,641. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $72.32 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business’s 50-day moving average price is $44.93 and its 200-day moving average price is $44.25.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. U.S. Bancorp’s revenue was up 2.0% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.31%. U.S. Bancorp’s dividend payout ratio is 47.85%.

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.