Trust Co. of Vermont Reduces Stake in U.S. Bancorp

Trust Co. of Vermont has reduced its investment in U.S. Bancorp (NYSE:USB) by 8.7% in the fourth quarter, as disclosed in a recent filing with the Securities and Exchange Commission (SEC). Following this adjustment, the institutional investor holds 66,451 shares of the financial services company, down from 72,804 shares after selling 6,353 shares during this period. The value of Trust Co. of Vermont's holdings in U.S. Bancorp now stands at approximately $3,178,000.

Other Institutional Changes

Additionally, other institutional investors have made significant changes to their positions in U.S. Bancorp. For instance, Natixis Advisors LLC increased its stake by 16.6% in the third quarter, bringing its total to 401,232 shares, valued at about $18,348,000 after adding 56,990 shares. International Assets Investment Management LLC entered a new investment in U.S. Bancorp worth around $1,018,000 during the fourth quarter.

Moreover, M&T Bank Corp raised its position in U.S. Bancorp by 2.8% during the third quarter, now owning 846,344 shares valued at $38,704,000 after acquiring 22,803 additional shares. Hilltop Holdings Inc. also saw a major increase of 184.3% in its holdings, now owning 70,283 shares valued at $3,214,000 after gaining 45,560 shares. Lastly, Keystone Financial Planning Inc. boosted its stake by 29.5% in the fourth quarter, now holding 72,614 shares worth $3,473,000. Overall, 77.60% of U.S. Bancorp's stock is under institutional ownership.

Analyst Ratings

The stock has caught the attention of several analysts. Robert W. Baird has set a price target of $54.00 for U.S. Bancorp shares. In addition, DA Davidson upgraded the rating of U.S. Bancorp from "neutral" to "buy" and increased their target price to $60.00. However, Raymond James moved U.S. Bancorp from a "market perform" rating to an "outperform" rating, with a target price of $57.00. Truist Financial initiated coverage on U.S. Bancorp, setting a "hold" rating with a price target of $54.00. Piper Sandler also raised U.S. Bancorp from a "neutral" rating to "overweight" with a price objective of $58.00. In total, ten research analysts have assigned a hold rating, while eleven rate the stock as a buy, giving the company a consensus rating of "Moderate Buy" and an average target price of $54.21.

Recent Trading Performance

On Friday, NYSE:USB shares increased by 0.8%, reaching $48.40, with a trading volume of 14,819,489 shares, eclipsing the average volume of 5,864,763. U.S. Bancorp has a market cap of $75.50 billion, a P/E ratio of 14.80, and a beta value of 1.05. The stock has fluctuated over the past year, hitting a low of $37.81 and a high of $53.98.

Quarterly Earnings Report

U.S. Bancorp recently reported its quarterly earnings on January 16th, revealing earnings of $1.07 per share. This figure slightly surpassed analysts' expectations of $1.06. The company generated $7.01 billion in revenue, slightly higher than the estimated $7 billion, and showed a year-over-year revenue growth of 3.7%.

Dividend Announcement

The company also declared a quarterly dividend of $0.50, which was paid to shareholders on January 15th. This annualizes to a total dividend of $2.00, offering a yield of 4.13%. U.S. Bancorp's dividend payout ratio stands at 61.16%.

Company Overview

U.S. Bancorp is a financial services holding company providing an array of services to individuals, businesses, governmental entities, and more across the United States. It operates through several divisions, including Wealth Management, Consumer and Business Banking, and Payment Services.

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