First Manhattan CO. LLC. Sells 10,128 Shares of U.S. Bancorp (NYSE:USB)

First Manhattan CO. LLC. reduced its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,193,002 shares of the financial services provider's stock after selling 10,128 shares during the quarter. First Manhattan CO. LLC. owned about 0.08% of U.S. Bancorp worth $59,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in U.S. Bancorp during the 4th quarter valued at $26,000. Winch Advisory Services LLC boosted its stake in U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 490 shares in the last quarter. FPC Investment Advisory Inc. bought a new position in U.S. Bancorp during the 4th quarter valued at $28,000. Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the 4th quarter valued at $30,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of U.S. Bancorp during the 4th quarter worth $30,000. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Aleem Gillani bought 5,000 shares of the business's stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $559,800. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Down 0.3%

Shares of NYSE:USB traded down $0.13 during midday trading on Friday, hitting $42.01. 6,997,653 shares of the stock were exchanged, compared to its average volume of 9,113,103. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The business's fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $46.12. The company has a market capitalization of $65.45 billion, a PE ratio of 11.08, a P/E/G ratio of 1.73 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.06. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same period last year, the company earned $0.78 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.76%. U.S. Bancorp's dividend payout ratio is 49.50%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on USB. Wolfe Research raised U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a research note on Thursday, April 3rd. Barclays reduced their price objective on 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. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Morgan Stanley reduced their price objective on U.S. Bancorp from $51.00 to $50.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Bank of America reduced their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.48.

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.