Intact Investment Management Inc. lessened its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 213,700 shares of the financial services provider’s stock after selling 22,100 shares during the period. Intact Investment Management Inc.’s holdings in U.S. Bancorp were worth $7,065,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Vestcor Inc raised its stake in U.S. Bancorp by 0.7% during the fourth quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock worth $1,460,000 after buying an additional 230 shares during the last quarter. Acadian Asset Management LLC grew its holdings in U.S. Bancorp by 3.0% in the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 276 shares during the period. Gamco Investors INC. ET AL grew its holdings in U.S. Bancorp by 3.4% in the first quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 280 shares during the period. Investors Research Corp grew its holdings in U.S. Bancorp by 0.9% in the second quarter. Investors Research Corp now owns 35,268 shares of the financial services provider’s stock worth $1,165,000 after purchasing an additional 300 shares during the period. Finally, Perkins Capital Management Inc. grew its holdings in U.S. Bancorp by 2.0% in the third quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 300 shares during the period. Institutional investors own 75.40% of the company’s stock.
Insiders Place Their Bets
In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $40.34, for a total value of $82,535.64. Following the sale, the insider now owns 112,722 shares of the company’s stock, valued at $4,547,205.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 sale, the insider now owns 112,722 shares of the company’s stock, valued at $4,547,205.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Shailesh M. Kotwal sold 2,954 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the completion of the sale, the insider now directly owns 119,768 shares in the company, valued at approximately $4,738,022.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,439 shares of company stock valued at $2,865,224. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Stock Down 0.1 %
U.S. Bancorp stock traded down $0.06 during midday trading on Friday, hitting $41.49. 7,287,467 shares of the stock were exchanged, compared to its average volume of 9,758,274. The stock has a market capitalization of $64.60 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 2.11 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $48.67. The business’s 50-day moving average price is $42.31 and its 200-day moving average price is $37.85.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.71 by $0.28. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. On average, research analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.49 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 4.72%. U.S. Bancorp’s payout ratio is currently 59.76%.
Analysts Set New Price Targets
A number of equities research analysts have commented on USB shares. Royal Bank of Canada raised their price target on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Barclays raised their price target on shares of U.S. Bancorp from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. Finally, Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $45.35.
Get Our Latest Research Report on U.S. Bancorp
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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