U.S. Bancorp $USB Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its stake in U.S. Bancorp by 42.5% in Q3, selling 599,465 shares and now holds 811,778 shares (~0.05% of the company) valued at about $39.23 million.
• Insider Mark G. Runkel sold 32,195 shares on Feb. 6 at an average price of $60.65 for roughly $1.95 million, reducing his ownership by 24.78%.
• U.S. Bancorp beat quarterly estimates with EPS $1.26 vs. $1.19 expected and $7.92B revenue, and analysts have lifted targets leaving a consensus rating of Moderate Buy with an average price target of $60.02.

Korea Investment CORP lessened its stake in U.S. Bancorp (NYSE:USB - Free Report) by 42.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 811,778 shares of the financial services provider's stock after selling 599,465 shares during the quarter. Korea Investment CORP owned approximately 0.05% of U.S. Bancorp worth $39,233,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Guerra Advisors Inc bought a new stake in U.S. Bancorp in the third quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in U.S. Bancorp during the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $27,000. Pineridge Advisors LLC lifted its holdings in U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after buying an additional 522 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $31,000. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays boosted their price target on U.S. Bancorp from $56.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, January 5th. Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a "market perform" rating in a report on Wednesday, January 21st. TD Cowen boosted their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, January 21st. DA Davidson increased their target price on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Finally, Argus raised their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.02.

Insider Activity

In other news, insider Mark G. Runkel sold 32,195 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Down 0.6%

Shares of NYSE USB opened at $52.08 on Tuesday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The company has a market cap of $80.91 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.04. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock's 50 day simple moving average is $56.02 and its 200 day simple moving average is $51.53.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.07. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the prior year, the business earned $1.07 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

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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