New England Asset Management Inc. Sells 23,380 Shares of U.S. Bancorp (NYSE:USB)

New England Asset Management Inc. trimmed its stake in U.S. Bancorp (NYSE:USB - Free Report) by 12.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,015 shares of the financial services provider's stock after selling 23,380 shares during the period. U.S. Bancorp makes up about 1.3% of New England Asset Management Inc.'s portfolio, making the stock its 15th biggest position. New England Asset Management Inc.'s holdings in U.S. Bancorp were worth $7,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Czech National Bank raised its position in U.S. Bancorp by 6.4% in the 4th quarter. Czech National Bank now owns 338,246 shares of the financial services provider's stock worth $16,178,000 after purchasing an additional 20,364 shares during the period. Fiduciary Alliance LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $296,000. Brookstone Capital Management raised its holdings in shares of U.S. Bancorp by 7.1% in the fourth quarter. Brookstone Capital Management now owns 244,688 shares of the financial services provider's stock worth $11,703,000 after buying an additional 16,293 shares during the period. Capital Investment Advisors LLC lifted its stake in shares of U.S. Bancorp by 18.9% during the 4th quarter. Capital Investment Advisors LLC now owns 7,149 shares of the financial services provider's stock worth $342,000 after acquiring an additional 1,135 shares during the last quarter. Finally, Thomasville National Bank boosted its holdings in U.S. Bancorp by 1.7% during the 4th quarter. Thomasville National Bank now owns 662,228 shares of the financial services provider's stock valued at $31,674,000 after acquiring an additional 11,043 shares during the period. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 4.6%

U.S. Bancorp stock opened at $43.94 on Tuesday. The business's 50-day simple moving average is $40.69 and its two-hundred day simple moving average is $46.09. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $68.46 billion, a PE ratio of 11.59, a PEG ratio of 1.73 and a beta of 0.97. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $6.92 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.55%. U.S. Bancorp's payout ratio is currently 49.50%.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 5,000 shares of the firm's stock in a transaction on Monday, April 21st. The stock was bought at an average cost of $37.32 per share, with a total value of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company's stock, valued at $559,800. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Bank of America decreased their target price on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a research report on Monday, March 17th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Royal Bank of Canada dropped their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James reaffirmed an "outperform" rating and set a $51.00 price target (down previously from $57.00) on shares of U.S. Bancorp in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $50.48.

About U.S. Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.