CENTRAL TRUST Co Sells 1,705 Shares of U.S. Bancorp (NYSE:USB)

CENTRAL TRUST Co reduced its stake in U.S. Bancorp (NYSE:USB) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,144 shares of the financial services provider’s stock after selling 1,705 shares during the period. CENTRAL TRUST Co’s holdings in U.S. Bancorp were worth $3,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of USB. Duality Advisers LP acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $419,000. Principal Financial Group Inc. raised its holdings in shares of U.S. Bancorp by 10.8% in the third quarter. Principal Financial Group Inc. now owns 1,711,103 shares of the financial services provider’s stock valued at $56,569,000 after buying an additional 167,461 shares during the last quarter. California Public Employees Retirement System lifted its position in U.S. Bancorp by 3.7% during the 3rd quarter. California Public Employees Retirement System now owns 2,917,451 shares of the financial services provider’s stock worth $96,451,000 after buying an additional 103,517 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in U.S. Bancorp by 9.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 34,344 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 3,088 shares during the last quarter. Finally, Monarch Capital Management Inc. increased its position in U.S. Bancorp by 1.0% in the 3rd quarter. Monarch Capital Management Inc. now owns 133,836 shares of the financial services provider’s stock valued at $4,464,000 after acquiring an additional 1,355 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.0 %

Shares of NYSE USB traded down $0.41 during midday trading on Wednesday, reaching $40.77. The company’s stock had a trading volume of 5,606,389 shares, compared to its average volume of 8,418,840. The stock has a 50 day simple moving average of $42.07 and a 200-day simple moving average of $41.30. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $63.62 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 2.13 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $29.33 and a fifty-two week high of $45.85.

U.S. Bancorp (NYSE:USB) last issued its quarterly 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. 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%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. Equities research analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of U.S. Bancorp in a research report on Thursday, May 16th. Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Morgan Stanley boosted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Finally, Piper Sandler reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Fifteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.02.

About U.S. Bancorp

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.