Rockefeller Capital Management L.P. Sells 52,656 Shares of U.S. Bancorp $USB

Key Points

• Rockefeller Capital Management cut its U.S. Bancorp stake by 18.8% in the fourth quarter, selling 52,656 shares and leaving it with 227,567 shares valued at about $12.1 million.
• U.S. Bancorp reported quarterly earnings of $1.18 per share, topping estimates, while revenue of $7.32 billion also slightly beat expectations and rose 4.7% year over year.
• The bank announced a quarterly dividend of $0.52 per share, implying an annualized yield of 3.5%, and analysts currently rate the stock a consensus Moderate Buy with a $61.29 price target.

Rockefeller Capital Management L.P. reduced its position in U.S. Bancorp (NYSE:USB - Free Report) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 227,567 shares of the financial services provider's stock after selling 52,656 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in U.S. Bancorp were worth $12,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in USB. World Investment Advisors lifted its position in shares of U.S. Bancorp by 9.1% during the 4th quarter. World Investment Advisors now owns 62,129 shares of the financial services provider's stock valued at $3,315,000 after buying an additional 5,171 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth about $413,000. Advisortrust Partners LLC bought a new stake in U.S. Bancorp in the 4th quarter valued at about $626,000. PeakShares LLC purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $96,000. Finally, Corient Private Wealth LLC lifted its holdings in U.S. Bancorp by 26.9% during the fourth quarter. Corient Private Wealth LLC now owns 513,400 shares of the financial services provider's stock valued at $27,454,000 after purchasing an additional 108,789 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on USB shares. Royal Bank Of Canada lifted their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Friday, April 17th. Weiss Ratings upgraded shares of U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. DA Davidson reaffirmed a "buy" rating and issued a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. Wall Street Zen upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.29.

U.S. Bancorp Stock Up 0.1%

USB stock opened at $60.12 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $93.25 billion, a PE ratio of 12.60, a PEG ratio of 1.04 and a beta of 0.97. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $61.19. The stock has a 50-day simple moving average of $55.90 and a two-hundred day simple moving average of $55.09.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company's revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that U.S. Bancorp will post 5.08 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.5%. U.S. Bancorp's dividend payout ratio is currently 43.61%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the firm's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares of the company's stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi L. Richard sold 40,000 shares of the business's 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 of the company's stock, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

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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