Community Bank N.A. Trims Stock Position in U.S. Bancorp (NYSE:USB)

Community Bank N.A. lessened its holdings in U.S. Bancorp (NYSE:USB) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,441 shares of the financial services provider’s stock after selling 2,668 shares during the period. Community Bank N.A.’s holdings in U.S. Bancorp were worth $2,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mufg Bank LTD. lifted its stake in shares of U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares during the period. Aristotle Capital Management LLC increased its position in shares of U.S. Bancorp by 266.6% in the third quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares in the last quarter. Vanguard Group Inc. increased its position in shares of U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after acquiring an additional 6,479,642 shares in the last quarter. Barclays PLC increased its position in shares of U.S. Bancorp by 120.4% in the third quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after acquiring an additional 4,813,976 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of U.S. Bancorp in the third quarter worth $79,642,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded up $0.64 during trading hours on Wednesday, hitting $41.61. 6,548,603 shares of the company traded hands, compared to its average volume of 8,786,709. The firm has a market cap of $64.83 billion, a P/E ratio of 13.78, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm’s 50-day simple moving average is $42.36 and its two-hundred day simple moving average is $40.04. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.16 EPS. As a group, analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Barclays reduced their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Finally, Royal Bank of Canada raised their price target on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.14.

Insider Buying and Selling

In related news, insider Terrance R. Dolan sold 26,583 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by corporate insiders.

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.