Cambiar Investors LLC Sells 21,244 Shares of U.S. Bancorp $USB

Key Points

• Cambiar Investors LLC reduced its U.S. Bancorp stake by 3.0%, selling 21,244 shares and leaving it with 692,620 shares worth about $36.96 million per the latest 13F filing.
• U.S. Bancorp beat quarterly estimates with EPS of $1.26 (vs. $1.19 est.) and $7.92B in revenue, and announced a quarterly dividend of $0.52 (3.7% yield; ex-dividend March 31, payable April 15).
• Analysts' consensus is a "Moderate Buy" with an average target of $60.26, while individual broker ratings range from Strong Buy/Buy to Hold and one Sell.

Cambiar Investors LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 692,620 shares of the financial services provider's stock after selling 21,244 shares during the period. Cambiar Investors LLC's holdings in U.S. Bancorp were worth $36,958,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Guerra Advisors Inc bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $25,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $25,000. Clayton Financial Group LLC bought a new stake in shares of U.S. Bancorp during the 4th quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $26,000. Finally, JPL Wealth Management LLC bought a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $28,000. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on USB. TD Cowen lifted their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their price objective on shares of U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. DA Davidson boosted their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a "market perform" rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.26.

U.S. Bancorp Stock Performance

NYSE USB opened at $55.66 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $86.39 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.01 and a beta of 1.01. U.S. Bancorp has a 12-month low of $36.48 and a 12-month high of $61.19. The firm has a 50-day moving average price of $54.78 and a two-hundred day moving average price of $52.08.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. Analysts anticipate that U.S. Bancorp will post 4.38 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 Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.52 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. U.S. Bancorp's payout ratio is presently 45.02%.

Insider Activity at U.S. Bancorp

In other news, insider Mark G. Runkel sold 32,195 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company's stock.

About U.S. Bancorp

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.

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.