Bridges Investment Management Inc. Has $42.54 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Bridges Investment Management cut its U.S. Bancorp stake by 46.6% in the fourth quarter, selling 695,473 shares and leaving it with 797,279 shares valued at about $42.54 million.
• Several other institutional investors adjusted positions in USB, and overall 77.6% of the stock is owned by institutions and hedge funds.
• Analysts remain generally positive: the stock has a Moderate Buy consensus with an average price target of $61.20, while U.S. Bancorp recently beat earnings estimates and pays a quarterly dividend yielding about 3.8%.

Bridges Investment Management Inc. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 46.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 797,279 shares of the financial services provider's stock after selling 695,473 shares during the period. Bridges Investment Management Inc. owned about 0.05% of U.S. Bancorp worth $42,543,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Citigroup Inc. lifted its stake in U.S. Bancorp by 2.4% in the 3rd quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider's stock valued at $84,568,000 after purchasing an additional 41,803 shares during the last quarter. Danske Bank A S acquired a new stake in U.S. Bancorp in the 3rd quarter valued at about $37,162,000. Jones Financial Companies Lllp lifted its stake in U.S. Bancorp by 15.3% in the 3rd quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider's stock valued at $17,738,000 after purchasing an additional 47,537 shares during the last quarter. Roman Butler Fullerton & Co. acquired a new stake in U.S. Bancorp in the 3rd quarter valued at about $893,000. Finally, Nordea Investment Management AB lifted its stake in U.S. Bancorp by 15.3% in the 4th quarter. Nordea Investment Management AB now owns 2,690,174 shares of the financial services provider's stock valued at $144,462,000 after purchasing an additional 357,300 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on USB shares. UBS Group reiterated a "neutral" rating and issued a $60.00 target price on shares of U.S. Bancorp in a research note on Wednesday, February 4th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Evercore increased their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Thursday, February 5th. Barclays increased their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.20.

U.S. Bancorp Stock Performance

NYSE USB opened at $54.62 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $84.79 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 0.96 and a beta of 0.97. The firm's 50 day simple moving average is $54.47 and its 200 day simple moving average is $54.01. U.S. Bancorp has a 1 year low of $42.55 and a 1 year high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the business posted $1.03 earnings per share. The company's quarterly revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 5.09 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp's payout ratio is 43.61%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of U.S. Bancorp stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

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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