SouthState Corp Has $1.55 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

SouthState Corp trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 35,715 shares of the financial services provider’s stock after selling 527 shares during the quarter. SouthState Corp’s holdings in U.S. Bancorp were worth $1,546,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of U.S. Bancorp by 7,110.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,461 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,413 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in U.S. Bancorp by 2.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 197,233 shares of the financial services provider’s stock valued at $6,521,000 after buying an additional 4,996 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in U.S. Bancorp by 26.2% in the third quarter. Stratos Wealth Partners LTD. now owns 27,425 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 5,701 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in U.S. Bancorp by 8.2% during the third quarter. J.W. Cole Advisors Inc. now owns 11,985 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 906 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp in the third quarter worth about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 1.1 %

U.S. Bancorp stock traded up $0.45 during trading hours on Friday, reaching $41.42. 5,091,153 shares of the company’s stock were exchanged, compared to its average volume of 8,569,601. The firm has a market capitalization of $64.53 billion, a PE ratio of 13.71, a PEG 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 $42.32 and its 200 day simple moving average is $40.35. U.S. Bancorp has a twelve month low of $27.27 and a twelve month 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, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 3.85 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.73%. U.S. Bancorp’s payout ratio is presently 64.90%.

Analysts Set New Price Targets

USB has been the topic of several research reports. UBS Group decreased their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. DA Davidson lowered their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. HSBC upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, Jefferies Financial Group increased their target price on U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.02.

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.