U.S. Bancorp $USB Shares Sold by Allworth Financial LP

Allworth Financial LP lessened its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 13.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 107,349 shares of the financial services provider's stock after selling 16,854 shares during the period. Allworth Financial LP's holdings in U.S. Bancorp were worth $6,484,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of USB. California State Teachers Retirement System raised its position in U.S. Bancorp by 5,893.0% during the second quarter. California State Teachers Retirement System now owns 142,640,580 shares of the financial services provider's stock valued at $8,615,491,000 after buying an additional 140,260,472 shares during the period. State Street Corp boosted its position in U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider's stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the last quarter. Mufg Bank LTD. purchased a new position in U.S. Bancorp in the second quarter valued at about $2,680,199,000. Geode Capital Management LLC grew its stake in U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider's stock valued at $2,002,518,000 after purchasing an additional 443,646 shares in the last quarter. Finally, Norges Bank acquired a new position in U.S. Bancorp in the 4th quarter worth about $1,887,497,000. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the completion of the sale, the insider owned 74,969 shares of the company's stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

USB opened at $62.22 on Thursday. The firm has a market capitalization of $96.94 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.11 and a beta of 0.95. The stock's 50 day moving average price is $63.16 and its two-hundred day moving average price is $57.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the business posted $1.11 EPS. On average, equities analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. U.S. Bancorp's dividend payout ratio is currently 41.52%.

Analyst Ratings Changes

A number of research firms have recently weighed in on USB. Raymond James Financial began coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a "strong-buy" rating and a $72.00 price target for the company. Barclays boosted their price target on U.S. Bancorp from $67.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Robert W. Baird increased their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. UBS Group raised their price objective on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a "neutral" rating in a research report on Tuesday, July 7th. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $67.06.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company and the parent organization of U.S. Bank, a full-service commercial bank. The company provides deposit accounts, consumer and business loans, mortgages, credit and debit cards, payment services, and other banking products to individuals, businesses, institutions and government entities.

Through its wealth, corporate and commercial banking operations, U.S. Bancorp also offers investment management, trust and custody services, treasury management, capital markets support, equipment finance and other specialized financial solutions.

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