ABN Amro Investment Solutions Sells 81,756 Shares of U.S. Bancorp $USB

Key Points

• ABN Amro Investment Solutions cut its U.S. Bancorp stake by 32.3% in the first quarter, selling 81,756 shares and leaving it with 171,205 shares valued at about $8.9 million.
• U.S. Bancorp reported better-than-expected quarterly results, earning $1.35 per share on revenue of $7.71 billion, both above analyst estimates.
• The bank recently paid a quarterly dividend of $0.52 per share, equal to an annualized yield of 3.2%, while analysts currently rate the stock a Moderate Buy with an average price target of $67.00.

ABN Amro Investment Solutions lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,205 shares of the financial services provider's stock after selling 81,756 shares during the period. ABN Amro Investment Solutions' holdings in U.S. Bancorp were worth $8,904,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Paulson Wealth Management Inc. raised its holdings in U.S. Bancorp by 2.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock worth $469,000 after buying an additional 173 shares during the last quarter. Flputnam Investment Management Co. grew its holdings in shares of U.S. Bancorp by 1.4% during the fourth quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock valued at $732,000 after buying an additional 186 shares during the last quarter. Formidable Asset Management LLC grew its holdings in shares of U.S. Bancorp by 0.8% during the first quarter. Formidable Asset Management LLC now owns 23,373 shares of the financial services provider's stock valued at $1,247,000 after buying an additional 186 shares during the last quarter. Balboa Wealth Partners increased its position in shares of U.S. Bancorp by 4.0% during the first quarter. Balboa Wealth Partners now owns 4,920 shares of the financial services provider's stock valued at $256,000 after acquiring an additional 188 shares in the last quarter. Finally, Richmond Investment Services LLC increased its position in shares of U.S. Bancorp by 1.9% during the fourth quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 192 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 1.2%

NYSE:USB opened at $64.48 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The company has a market cap of $100.02 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The company has a 50 day simple moving average of $58.48 and a two-hundred day simple moving average of $56.30.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.07. The business had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 EPS. Research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp's dividend payout ratio is 41.52%.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on USB shares. Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 target price on the stock. Stephens boosted their price target on U.S. Bancorp from $63.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Friday, July 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $65.00 to $67.50 in a report on Monday. Finally, Evercore raised U.S. Bancorp from an "in-line" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.00.

U.S. Bancorp Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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