Whittier Trust Co. Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Posted by Defense World Staff on Apr 7th, 2023

U.S. Bancorp logo Whittier Trust Co. reduced its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,679 shares of the financial services provider’s stock after selling 654 shares during the quarter. Whittier Trust Co.’s holdings in U.S. Bancorp were worth $553,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hoxton Planning & Management LLC bought a new stake in U.S. Bancorp in the 4th quarter worth about $212,000. Greylin Investment Management Inc grew its holdings in shares of U.S. Bancorp by 2.2% in the fourth quarter. Greylin Investment Management Inc now owns 87,546 shares of the financial services provider’s stock valued at $3,818,000 after acquiring an additional 1,918 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of U.S. Bancorp by 10.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 14,907 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 1,394 shares during the last quarter. Alpha Cubed Investments LLC lifted its holdings in U.S. Bancorp by 5.9% during the fourth quarter. Alpha Cubed Investments LLC now owns 6,058 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 336 shares during the period. Finally, Lindbrook Capital LLC boosted its position in U.S. Bancorp by 13.6% in the fourth quarter. Lindbrook Capital LLC now owns 3,158 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 377 shares during the last quarter. 71.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Piper Sandler decreased their target price on U.S. Bancorp from $57.00 to $53.00 in a research report on Friday, March 10th. Royal Bank of Canada decreased their price objective on shares of U.S. Bancorp from $55.00 to $49.00 and set an “outperform” rating for the company in a report on Friday, March 24th. Keefe, Bruyette & Woods upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $52.00 to $58.00 in a research note on Monday, December 12th. Wells Fargo & Company decreased their price target on shares of U.S. Bancorp from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday. Finally, The Goldman Sachs Group began coverage on U.S. Bancorp in a research note on Sunday, February 26th. They issued a “neutral” rating on the stock. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.68.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $35.75 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.79. U.S. Bancorp has a fifty-two week low of $32.72 and a fifty-two week high of $53.88. The stock has a market cap of $54.76 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. The stock has a fifty day moving average of $43.13 and a 200-day moving average of $43.41.

U.S. Bancorp (NYSE:USB – Get Rating) last posted its earnings results on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The business had revenue of $6.37 billion during the quarter, compared to analyst estimates of $6.61 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.91 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend is Thursday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 51.75%.

About U.S. Bancorp

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U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.