Epoch Investment Partners Inc. decreased its position in U.S. Bancorp (NYSE:USB – Free Report) by 8.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,233,987 shares of the financial services provider’s stock after selling 202,532 shares during the period. Epoch Investment Partners Inc. owned approximately 0.14% of U.S. Bancorp worth $73,856,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in U.S. Bancorp by 10.1% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,043 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 647 shares during the period. Providence Capital Advisors LLC boosted its stake in U.S. Bancorp by 2.4% in the 3rd quarter. Providence Capital Advisors LLC now owns 80,456 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 1,896 shares during the period. Natixis Advisors L.P. boosted its stake in U.S. Bancorp by 1.0% in the 3rd quarter. Natixis Advisors L.P. now owns 377,421 shares of the financial services provider’s stock worth $12,478,000 after purchasing an additional 3,691 shares during the period. Jacobi Capital Management LLC boosted its stake in U.S. Bancorp by 2.3% in the 3rd quarter. Jacobi Capital Management LLC now owns 17,220 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 388 shares during the period. Finally, Meiji Yasuda Life Insurance Co boosted its stake in U.S. Bancorp by 10.6% in the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 30,284 shares of the financial services provider’s stock worth $1,001,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.
Insider Buying and Selling at U.S. Bancorp
In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,954 shares of the firm’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 value of $116,860.24. Following the sale, the insider now owns 119,768 shares in the company, valued at $4,738,022.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Terrance R. Dolan sold 22,756 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the completion of the transaction, the insider now owns 144,236 shares of the company’s stock, valued at $6,496,389.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shailesh M. Kotwal sold 2,954 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The disclosure for this sale can be found here. Insiders have sold 88,021 shares of company stock worth $3,760,229 over the last quarter. Corporate insiders own 0.24% of the company’s stock.
Wall Street Analyst Weigh In
USB has been the subject of a number of recent research reports. 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 research note on Thursday, December 14th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.35.
U.S. Bancorp Stock Performance
Shares of NYSE:USB traded up $0.01 on Friday, reaching $41.36. 6,391,775 shares of the company’s stock were exchanged, compared to its average volume of 9,450,349. The company has a fifty day moving average of $42.23 and a 200-day moving average of $37.91. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $48.24. The company has a market capitalization of $64.44 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 2.08 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share (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 firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. On average, research analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.49 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.74%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 59.76%.
U.S. Bancorp 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
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