Robeco Institutional Asset Management B.V. reduced its stake in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 40.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 320,351 shares of the financial services provider’s stock after selling 216,341 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in U.S. Bancorp were worth $12,917,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in USB. Mach 1 Financial Group LLC acquired a new position in U.S. Bancorp in the third quarter valued at approximately $26,000. Heritage Wealth Management LLC acquired a new position in U.S. Bancorp in the second quarter valued at approximately $37,000. Kistler Tiffany Companies LLC lifted its holdings in U.S. Bancorp by 334.0% in the third quarter. Kistler Tiffany Companies LLC now owns 868 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 668 shares during the last quarter. MV Capital Management Inc. lifted its holdings in U.S. Bancorp by 32.0% in the third quarter. MV Capital Management Inc. now owns 1,069 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 259 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in U.S. Bancorp by 59.7% in the third quarter. Sound Income Strategies LLC now owns 1,094 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 409 shares during the last quarter. 71.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
USB has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on U.S. Bancorp in a report on Sunday, February 26th. They issued a “neutral” rating on the stock. Wolfe Research lowered U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Thursday, December 1st. Credit Suisse Group boosted their target price on U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Deutsche Bank Aktiengesellschaft cut their target price on U.S. Bancorp from $60.00 to $52.00 in a research report on Friday, January 6th. Finally, Citigroup boosted their target price on U.S. Bancorp from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.83.
U.S. Bancorp Stock Down 9.4 %
U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.09. The business had revenue of $6.37 billion for the quarter, compared to analyst estimates of $6.61 billion. U.S. Bancorp had a return on equity of 16.13% and a net margin of 21.26%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 5.01 earnings per share for the current fiscal year.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend is Thursday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 51.75%.
U.S. Bancorp Company Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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