Nisa Investment Advisors LLC Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Nisa Investment Advisors LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,550 shares of the financial services provider's stock after selling 28,351 shares during the quarter. Nisa Investment Advisors LLC's holdings in U.S. Bancorp were worth $16,855,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of USB. Westend Capital Management LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $27,000. YANKCOM Partnership grew its stake in shares of U.S. Bancorp by 59.4% during the first quarter. YANKCOM Partnership now owns 698 shares of the financial services provider's stock worth $29,000 after purchasing an additional 260 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in U.S. Bancorp in the fourth quarter valued at $30,000. Alpine Bank Wealth Management acquired a new stake in U.S. Bancorp in the first quarter valued at $30,000. Finally, Millstone Evans Group LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 77.60% of the company's stock.

Analyst Upgrades and Downgrades

USB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their target price on 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. reiterated an "underweight" rating and set a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wells Fargo & Company decreased their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Evercore ISI raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock an "in-line" rating in a report on Wednesday, June 4th. Finally, Cowen initiated coverage on U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $51.70.

U.S. Bancorp Trading Down 0.8%

NYSE USB opened at $47.28 on Thursday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a 50-day moving average price of $44.13 and a 200 day moving average price of $44.40. The stock has a market capitalization of $73.66 billion, a P/E ratio of 11.70, a P/E/G ratio of 1.79 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The firm had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.23%. U.S. Bancorp's dividend payout ratio is currently 49.50%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director owned 15,000 shares of the company's stock, valued at $559,800. This trade represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.