King Luther Capital Management Corp Lowers Stock Position in U.S. Bancorp (NYSE:USB)

King Luther Capital Management Corp decreased its stake in U.S. Bancorp (NYSE:USB) by 37.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,453,279 shares of the financial services provider’s stock after selling 878,081 shares during the period. King Luther Capital Management Corp owned about 0.09% of U.S. Bancorp worth $48,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in USB. Vestcor Inc grew its position in U.S. Bancorp by 0.7% during the fourth quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after acquiring an additional 230 shares during the last quarter. Acadian Asset Management LLC raised its position in U.S. Bancorp by 3.0% in the 1st 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 during the period. Gamco Investors INC. ET AL lifted its stake in U.S. Bancorp by 3.4% in the first quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 280 shares during the last quarter. Peoples Financial Services CORP. boosted its position in U.S. Bancorp by 2.4% during the second quarter. Peoples Financial Services CORP. now owns 12,875 shares of the financial services provider’s stock valued at $425,000 after buying an additional 300 shares during the period. Finally, Atwood & Palmer Inc. grew its stake in shares of U.S. Bancorp by 1.7% during the second quarter. Atwood & Palmer Inc. now owns 17,998 shares of the financial services provider’s stock valued at $595,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $37.64 on Tuesday. The firm’s 50-day simple moving average is $33.53 and its two-hundred day simple moving average is $34.18. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.95. The stock has a market cap of $58.61 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.80 and a current ratio of 0.80.

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

U.S. Bancorp Dividend Announcement

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

Insider Activity

In other news, insider James B. Kelligrew acquired 500 shares of the firm’s stock in a transaction that occurred on Sunday, August 27th. The stock was bought at an average cost of $54.40 per share, for a total transaction of $27,200.00. Following the acquisition, the insider now directly owns 940 shares in the company, valued at $51,136. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 654 shares of company stock worth $30,148 over the last 90 days. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson increased their target price on U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 24th. Oppenheimer raised their target price on shares of U.S. Bancorp from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Bank of America decreased their target price on shares of U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Piper Sandler dropped their price target on shares of U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, September 15th. Finally, Stephens restated an “overweight” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.90.

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.