U.S. Bancorp (NYSE:USB) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE has decreased its position in U.S. Bancorp shares by 2.6%, holding approximately 7.6 million shares, valued at $321 million as of the latest SEC filing.
• U.S. Bancorp recently declared a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 4.5%.
• U.S. Bancorp reported $1.11 earnings per share for the latest quarter, exceeding analysts' expectations, and showed a 2.0% increase in revenue compared to the previous year.

US Bancorp DE reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,605,079 shares of the financial services provider's stock after selling 199,336 shares during the period. US Bancorp DE owned 0.49% of U.S. Bancorp worth $321,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Invesco Ltd. increased its position in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after acquiring an additional 5,449,949 shares during the last quarter. Marshall Wace LLP increased its position in shares of U.S. Bancorp by 414.1% during the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider's stock valued at $276,915,000 after acquiring an additional 4,663,518 shares during the last quarter. FMR LLC increased its position in shares of U.S. Bancorp by 5.0% during the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after acquiring an additional 3,211,815 shares during the last quarter. Northern Trust Corp increased its position in shares of U.S. Bancorp by 10.9% during the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock valued at $815,529,000 after acquiring an additional 1,670,305 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of U.S. Bancorp by 4,160.7% during the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider's stock valued at $65,340,000 after acquiring an additional 1,511,293 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded down $1.06 during trading on Friday, reaching $43.90. The company's stock had a trading volume of 9,632,877 shares, compared to its average volume of 11,832,194. The company has a 50-day moving average price of $45.17 and a two-hundred day moving average price of $44.07. The firm has a market cap of $68.40 billion, a PE ratio of 10.50, a P/E/G ratio of 1.38 and a beta of 1.01. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a current ratio of 0.81, a quick 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, beating analysts' consensus estimates of $1.07 by $0.04. The business had revenue of $7.06 billion for the quarter, compared to analysts' expectations of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company's quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp's payout ratio is presently 47.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Royal Bank Of Canada lowered their price objective 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. Cowen began coverage on shares of U.S. Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Evercore ISI raised their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company an "in-line" rating in a research note on Wednesday, June 4th. Finally, The Goldman Sachs Group raised their price objective on shares of U.S. Bancorp from $41.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued 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 $52.55.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $3,259,833.64. The trade was a 25.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp 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.