Martingale Asset Management L P trimmed its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 34.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 174,718 shares of the financial services provider’s stock after selling 91,546 shares during the period. Martingale Asset Management L P’s holdings in U.S. Bancorp were worth $6,299,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Core Alternative Capital lifted its position in shares of U.S. Bancorp by 85.7% during the 1st quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 342 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of U.S. Bancorp by 46.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 215 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $29,000. Iron Horse Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $29,000. Finally, AXS Investments LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $33,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
USB has been the subject of a number of recent research reports. Credit Suisse Group reissued a “neutral” rating and set a $44.00 price objective on shares of U.S. Bancorp in a research note on Thursday, July 20th. Bank of America raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $40.00 in a research note on Tuesday, July 11th. Odeon Capital Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. Wedbush raised their price objective on shares of U.S. Bancorp from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, July 20th. Finally, Oppenheimer lowered their target price on shares of U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $48.20.
Insider Activity at U.S. Bancorp
In related news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $39.79, for a total transaction of $549,738.64. Following the transaction, the insider now owns 119,058 shares in the company, valued at approximately $4,737,317.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy A. Welsh sold 13,816 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares of the company’s stock, valued at approximately $4,737,317.82. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Stock Up 1.5 %
Shares of NYSE USB opened at $37.07 on Friday. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95. The firm has a fifty day moving average of $36.66 and a 200-day moving average of $36.10. The stock has a market capitalization of $56.83 billion, a PE ratio of 10.27, a P/E/G ratio of 1.65 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The business had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 EPS. On average, analysts anticipate that U.S. Bancorp will post 4.36 EPS for the current year.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.92 annualized dividend and a dividend yield of 5.18%. U.S. Bancorp’s payout ratio is 53.19%.
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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