Moors & Cabot Inc. Has $726,000 Stake in U.S. Bancorp (NYSE:USB)

Moors & Cabot Inc. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 36.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,985 shares of the financial services provider’s stock after selling 12,682 shares during the quarter. Moors & Cabot Inc.’s holdings in U.S. Bancorp were worth $726,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. BCK Partners Inc. bought a new stake in U.S. Bancorp during the 1st quarter worth about $2,514,000. Acadian Asset Management LLC lifted its position in shares of U.S. Bancorp by 3.0% during the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 276 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of U.S. Bancorp by 20.8% during the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 3,663 shares during the last quarter. Prudential PLC acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $1,731,000. Finally, Candriam Luxembourg S.C.A. raised its position in U.S. Bancorp by 5.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock worth $4,573,000 after purchasing an additional 4,827 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $37.64 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $58.61 billion, a PE ratio of 11.20, a P/E/G ratio of 1.72 and a beta of 1.02. The stock has a 50 day simple moving average of $33.50 and a 200 day simple moving average of $34.06. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $49.95.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. The company had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $7.02 billion. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 4.32 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.10%. U.S. Bancorp’s dividend payout ratio (DPR) is 57.14%.

Insider Transactions at U.S. Bancorp

In other news, insider James B. Kelligrew bought 500 shares of the business’s stock in a transaction on Sunday, August 27th. The shares were purchased at an average price of $54.40 per share, for a total transaction of $27,200.00. Following the purchase, the insider now owns 940 shares of the company’s stock, valued at approximately $51,136. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 654 shares of company stock valued at $30,148 over the last three months. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of several research reports. HSBC initiated coverage on U.S. Bancorp in a research note on Thursday, September 7th. They issued a “hold” rating and a $30.00 target price for the company. Morgan Stanley dropped their price objective on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Tuesday, October 3rd. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 2nd. Stephens reiterated an “overweight” rating and set a $47.00 price target on shares of U.S. Bancorp in a research report on Monday, July 24th. Finally, DA Davidson raised 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. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.90.

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.