Davis R M Inc. Sells 121,656 Shares of U.S. Bancorp (NYSE:USB)

Key Points

• Davis R M Inc. has reduced its holdings in U.S. Bancorp by 36.6%, selling 121,656 shares and now holding 210,722 shares valued at approximately $8.9 million.
• U.S. Bancorp's stock is down 0.4%, currently priced at $45.92, and has a market capitalization of $71.54 billion.
• The company recently announced a quarterly dividend of $0.50, resulting in an annual yield of 4.36% with a payout ratio of 47.85%.

Davis R M Inc. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 36.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 210,722 shares of the financial services provider's stock after selling 121,656 shares during the period. Davis R M Inc.'s holdings in U.S. Bancorp were worth $8,897,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FIL Ltd lifted its holdings in U.S. Bancorp by 42.0% during the 4th quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after purchasing an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in U.S. Bancorp by 31.6% during the 1st quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after purchasing an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC lifted its holdings in U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 649 shares during the last quarter. Becker Capital Management Inc. lifted its holdings in U.S. Bancorp by 1.5% during the 4th quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after purchasing an additional 8,204 shares during the last quarter. Finally, United Community Bank raised its stake in shares of U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock worth $2,072,000 after acquiring an additional 8,796 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.4%

U.S. Bancorp stock opened at $45.92 on Thursday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a 50 day moving average of $45.11 and a 200-day moving average of $44.18. The stock has a market capitalization of $71.54 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.16.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, July 17th. The financial services provider reported $1.11 EPS for the quarter, topping the consensus estimate of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The business had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $7.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Souheil Badran sold 23,727 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $46.34, for a total value of $1,099,509.18. Following the transaction, the executive vice president directly owned 70,346 shares in the company, valued at approximately $3,259,833.64. This represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on USB. TD Cowen began coverage on shares of U.S. Bancorp in a research note on Thursday, May 15th. They issued a "buy" rating and a $60.00 target price for the company. Keefe, Bruyette & Woods dropped their target price on shares of U.S. Bancorp from $54.00 to $49.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Barclays dropped their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.55.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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