Carnegie Investment Counsel Has $4.09 Million Stake in U.S. Bancorp (NYSE:USB)

Carnegie Investment Counsel decreased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,747 shares of the financial services provider's stock after selling 12,634 shares during the period. Carnegie Investment Counsel's holdings in U.S. Bancorp were worth $4,085,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FIL Ltd lifted its stake in U.S. Bancorp by 42.0% in the fourth quarter. FIL Ltd now owns 28,872 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 8,542 shares during the last quarter. Wesbanco Bank Inc. lifted its stake in U.S. Bancorp by 31.6% in the first quarter. Wesbanco Bank Inc. now owns 325,056 shares of the financial services provider's stock valued at $13,724,000 after acquiring an additional 78,146 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in U.S. Bancorp by 10.6% in the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 649 shares during the last quarter. Becker Capital Management Inc. lifted its stake in U.S. Bancorp by 1.5% in the fourth quarter. Becker Capital Management Inc. now owns 560,095 shares of the financial services provider's stock valued at $27,069,000 after acquiring an additional 8,204 shares during the last quarter. Finally, United Community Bank lifted its stake in U.S. Bancorp by 21.8% in the first quarter. United Community Bank now owns 49,066 shares of the financial services provider's stock valued at $2,072,000 after acquiring an additional 8,796 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.26 during midday trading on Friday, hitting $46.32. 8,082,037 shares of the company traded hands, compared to its average volume of 12,850,706. The stock has a market cap of $72.16 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. The firm's fifty day moving average price is $44.99 and its 200-day moving average price is $44.22. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.04. The company had revenue of $7.06 billion for the quarter, compared to analyst estimates of $7.07 billion. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 4.32%. U.S. Bancorp's dividend payout ratio is presently 47.85%.

Insider Buying and Selling

In related news, EVP Souheil Badran sold 23,727 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the sale, the executive vice president directly owned 70,346 shares in the company, valued at $3,259,833.64. This trade represents a 25.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on USB shares. Oppenheimer increased their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Wells Fargo & Company cut their price target 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. JPMorgan Chase & Co. restated 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. Barclays cut their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.50.

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.