Cable Hill Partners LLC Has $1.14 Million Stake in U.S. Bancorp (NYSE:USB)

Cable Hill Partners LLC reduced its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,265 shares of the financial services provider's stock after selling 6,296 shares during the quarter. Cable Hill Partners LLC's holdings in U.S. Bancorp were worth $1,140,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. lifted its stake in shares of U.S. Bancorp by 0.5% in the 1st quarter. Cullen Frost Bankers Inc. now owns 59,915 shares of the financial services provider's stock worth $2,530,000 after acquiring an additional 302 shares during the period. Parcion Private Wealth LLC lifted its position in U.S. Bancorp by 1.5% in the first quarter. Parcion Private Wealth LLC now owns 53,757 shares of the financial services provider's stock worth $2,270,000 after purchasing an additional 793 shares during the period. Victory Capital Management Inc. boosted its stake in U.S. Bancorp by 2.1% during the 1st quarter. Victory Capital Management Inc. now owns 730,630 shares of the financial services provider's stock valued at $30,847,000 after purchasing an additional 15,374 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of U.S. Bancorp by 0.6% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 56,899 shares of the financial services provider's stock valued at $2,402,000 after purchasing an additional 314 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of U.S. Bancorp by 63.8% in the 1st quarter. Larson Financial Group LLC now owns 25,603 shares of the financial services provider's stock worth $1,081,000 after buying an additional 9,974 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on USB. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $43.50 target price (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Raymond James Financial raised shares of U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. Royal Bank Of Canada cut their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wall Street Zen lowered shares of U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Saturday, June 7th. Finally, Evercore ISI increased their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.70.

U.S. Bancorp Stock Down 0.9%

Shares of USB stock traded down $0.43 during trading on Thursday, hitting $45.25. 21,315,712 shares of the company were exchanged, compared to its average volume of 9,536,721. The business's 50-day simple moving average is $44.68 and its 200 day simple moving average is $44.33. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a market capitalization of $70.50 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.80.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 15.70% and a return on equity of 13.02%. The company had revenue of $7.06 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the business posted $0.98 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.42%. U.S. Bancorp's dividend payout ratio (DPR) is currently 49.50%.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 5,000 shares of U.S. Bancorp stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the acquisition, the director directly owned 15,000 shares in the company, valued at $559,800. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

About U.S. Bancorp

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.