Adage Capital Partners GP L.L.C. decreased its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 80.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 270,207 shares of the financial services provider’s stock after selling 1,119,493 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in U.S. Bancorp were worth $8,933,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp during the third quarter worth about $30,000. Archer Investment Corp lifted its position in shares of U.S. Bancorp by 63.2% during the second quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 379 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of U.S. Bancorp during the third quarter worth about $35,000. Cornerstone Planning Group LLC bought a new position in shares of U.S. Bancorp during the second quarter worth about $35,000. Finally, Pacific Center for Financial Services bought a new position in U.S. Bancorp in the first quarter worth about $36,000. Institutional investors own 75.40% of the company’s stock.
Insider Buying and Selling
In related news, insider Shailesh M. Kotwal sold 2,046 shares of the firm’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 transaction of $82,535.64. Following the completion of the sale, the insider now directly owns 112,722 shares in the company, valued at $4,547,205.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Shailesh M. Kotwal sold 2,046 shares of the firm’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 transaction of $82,535.64. Following the completion of the sale, the insider now directly owns 112,722 shares in the company, valued at $4,547,205.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy A. Welsh sold 12,100 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,067 shares of company stock worth $3,643,369. Corporate insiders own 0.24% of the company’s stock.
U.S. Bancorp Price Performance
NYSE USB opened at $43.26 on Friday. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. 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 firm has a market capitalization of $67.40 billion, a PE ratio of 13.19, a P/E/G ratio of 2.21 and a beta of 1.04. The company’s 50 day simple moving average is $41.89 and its 200 day simple moving average is $38.21.
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 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.92 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.53%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, December 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 59.76%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Stephens cut shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, December 20th. Barclays raised their target price 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. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Royal Bank of Canada raised their target price 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. Finally, Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $45.35.
Get Our Latest Stock Analysis on USB
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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Source: defenseworld.net
