First Eagle Investment Management LLC reduced its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,934,849 shares of the financial services provider’s stock after selling 160,908 shares during the quarter. First Eagle Investment Management LLC owned about 0.57% of U.S. Bancorp worth $295,386,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Institute for Wealth Management LLC. grew its position in U.S. Bancorp by 3.4% during the second quarter. Institute for Wealth Management LLC. now owns 11,300 shares of the financial services provider’s stock worth $373,000 after buying an additional 368 shares in the last quarter. National Bank of Canada FI grew its position in U.S. Bancorp by 292.1% during the third quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after buying an additional 1,032,866 shares in the last quarter. WASHINGTON TRUST Co grew its position in U.S. Bancorp by 13.9% during the second quarter. WASHINGTON TRUST Co now owns 2,590 shares of the financial services provider’s stock worth $86,000 after buying an additional 317 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in U.S. Bancorp by 13.5% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,256 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 3,719 shares in the last quarter. Finally, First Financial Bank Trust Division grew its position in U.S. Bancorp by 3.0% during the third quarter. First Financial Bank Trust Division now owns 34,355 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 1,009 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider Shailesh M. Kotwal sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total value of $82,535.64. Following the completion of the transaction, the insider now owns 112,722 shares in the company, valued at approximately $4,547,205.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares of the company’s stock, valued at approximately $4,547,205.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 22,756 shares of U.S. Bancorp stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,496,389.44. The disclosure for this sale can be found here. Insiders sold 66,439 shares of company stock worth $2,865,224 in the last quarter. Insiders own 0.24% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on USB shares. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. UBS Group raised their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Friday, December 15th. Bank of America cut their price target on shares of U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price target for the company in a research note on Thursday, December 14th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.35.
Get Our Latest Stock Report on USB
U.S. Bancorp Price Performance
Shares of NYSE:USB traded down $0.05 during trading on Friday, reaching $40.84. The stock had a trading volume of 11,269,408 shares, compared to its average volume of 9,709,081. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average price is $41.95 and its 200 day moving average price is $37.73. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $49.80. The stock has a market capitalization of $63.59 billion, a PE ratio of 12.45, a P/E/G ratio of 2.07 and a beta of 1.04.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the company posted $1.20 EPS. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 3.94 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s payout ratio is 59.76%.
U.S. Bancorp Company 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
Further Reading
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