Equity Investment Corp Trims Holdings in U.S. Bancorp $USB

Key Points

• Equity Investment Corp cut its U.S. Bancorp stake by 1.3% in Q4, selling 43,568 shares and leaving it with 3.25 million shares worth about $173.4 million.
• U.S. Bancorp reported better-than-expected earnings for the quarter, posting $1.18 EPS on $7.32 billion in revenue and beating analyst estimates on both lines.
• Recent insider selling was notable, with EVP Venkatachari Dilip and insider Jodi L. Richard both reducing their holdings, even as analysts maintain a Moderate Buy consensus and a $61.20 price target.

Equity Investment Corp lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,249,160 shares of the financial services provider's stock after selling 43,568 shares during the period. U.S. Bancorp accounts for about 3.5% of Equity Investment Corp's investment portfolio, making the stock its 4th largest position. Equity Investment Corp owned about 0.21% of U.S. Bancorp worth $173,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Paulson Wealth Management Inc. raised its position in U.S. Bancorp by 2.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider's stock valued at $469,000 after purchasing an additional 173 shares in the last quarter. Gilbert & Cook Inc. raised its position in U.S. Bancorp by 1.2% in the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider's stock valued at $832,000 after purchasing an additional 184 shares in the last quarter. Flputnam Investment Management Co. raised its position in U.S. Bancorp by 1.4% in the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider's stock valued at $732,000 after purchasing an additional 186 shares in the last quarter. Genesis Private Wealth LLC raised its position in U.S. Bancorp by 2.3% in the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider's stock valued at $445,000 after purchasing an additional 187 shares in the last quarter. Finally, RiverFront Investment Group LLC raised its position in U.S. Bancorp by 3.0% in the 4th quarter. RiverFront Investment Group LLC now owns 6,623 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $57.66 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The firm has a market capitalization of $89.44 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The stock's 50-day simple moving average is $55.12 and its 200-day simple moving average is $54.50.

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, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. As a group, equities research analysts forecast that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

Insider Activity at U.S. Bancorp

In other news, EVP Venkatachari Dilip sold 34,522 shares of the business's stock in a transaction that occurred on 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 owned 51,292 shares of the company's stock, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the business's stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Wall Street Zen lowered U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 6th. Weiss Ratings raised U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Barclays increased their price target on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.20.

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.

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