Fulton Bank N.A. Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Fulton Bank N.A. decreased its position in shares of U.S. Bancorp (NYSE:USB) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,442 shares of the financial services provider’s stock after selling 699 shares during the quarter. Fulton Bank N.A.’s holdings in U.S. Bancorp were worth $1,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Core Alternative Capital raised its position in U.S. Bancorp by 85.7% during the first quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 342 shares during the last quarter. SRS Capital Advisors Inc. raised its position 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 during the last quarter. Thompson Investment Management Inc. purchased a new stake in U.S. Bancorp in the 1st quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in U.S. Bancorp during the 1st quarter valued at $29,000. Finally, AXS Investments LLC purchased a new position in U.S. Bancorp during the fourth quarter worth $33,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on USB. Wedbush upped their price objective on U.S. Bancorp from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a report on Friday, August 4th. StockNews.com assumed coverage on shares of U.S. Bancorp in a report on Thursday, August 17th. They set a “sell” rating for the company. DA Davidson upped their price objective on shares of U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. Finally, 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.71.

Insider Transactions at U.S. Bancorp

In related news, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the transaction, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other U.S. Bancorp news, insider Timothy A. Welsh sold 13,816 shares of the business’s 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 completion of the sale, the insider now owns 119,058 shares in the company, valued at $4,737,317.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the sale, the chief financial officer now owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

U.S. Bancorp Stock Up 1.6 %

USB opened at $35.72 on Friday. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95. The firm has a 50 day moving average price of $37.18 and a 200 day moving average price of $35.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $54.76 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. U.S. Bancorp’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Sell-side analysts expect that U.S. Bancorp will post 4.44 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.38%. U.S. Bancorp’s payout ratio is currently 53.19%.

U.S. Bancorp Company 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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.