Mather Group LLC. Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Posted by Defense World Staff on Jun 18th, 2023

U.S. Bancorp logo Mather Group LLC. trimmed its position in U.S. Bancorp (NYSE:USB – Get Rating) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,710 shares of the financial services provider’s stock after selling 2,869 shares during the period. Mather Group LLC.’s holdings in U.S. Bancorp were worth $1,034,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Retirement Financial Solutions LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth $26,000. EWG Elevate Inc. purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at $28,000. SRS Capital Advisors Inc. increased its stake in U.S. Bancorp by 46.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Finally, AXS Investments LLC purchased a new position in U.S. Bancorp during the fourth quarter worth about $33,000. 71.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Alan B. Colberg purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was acquired at an average cost of $34.14 per share, for a total transaction of $341,400.00. Following the completion of the purchase, the director now owns 10,050 shares of the company’s stock, valued at $343,107. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other U.S. Bancorp news, Director Alan B. Colberg purchased 10,000 shares of the firm’s stock in a transaction dated Friday, April 21st. The stock was acquired at an average cost of $34.14 per share, with a total value of $341,400.00. Following the acquisition, the director now owns 10,050 shares of the company’s stock, valued at approximately $343,107. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott W. Wine acquired 30,438 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The shares were acquired at an average price of $32.85 per share, for a total transaction of $999,888.30. Following the purchase, the director now owns 30,438 shares of the company’s stock, valued at $999,888.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 76,698 shares of company stock worth $2,446,082. 0.24% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Up 0.5 %

Shares of NYSE USB opened at $33.45 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The stock’s 50-day simple moving average is $31.98 and its 200-day simple moving average is $39.70. The firm has a market cap of $51.28 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 1.12 and a beta of 0.93.

U.S. Bancorp (NYSE:USB – Get Rating) last announced its earnings results on Wednesday, April 19th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). U.S. Bancorp had a net margin of 19.21% and a return on equity of 16.70%. The business had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 4.59 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Thursday, June 29th. U.S. Bancorp’s payout ratio is currently 51.06%.

Analyst Ratings Changes

A number of research firms have recently commented on USB. Royal Bank of Canada dropped 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 research note on Friday, March 24th. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Robert W. Baird raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $52.00 price objective for the company in a research note on Monday, March 20th. Barclays cut their target price on U.S. Bancorp from $68.00 to $52.00 in a research report on Wednesday, April 12th. Finally, UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $49.84.

U.S. Bancorp Profile

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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.