New York Life Investment Management LLC Lowers Holdings in U.S. Bancorp (NYSE:USB)

New York Life Investment Management LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 21.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 242,350 shares of the financial services provider's stock after selling 64,584 shares during the period. New York Life Investment Management LLC's holdings in U.S. Bancorp were worth $10,489,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Exchange Traded Concepts LLC boosted its holdings in U.S. Bancorp by 7,110.4% during the third quarter. Exchange Traded Concepts LLC now owns 3,461 shares of the financial services provider's stock worth $114,000 after purchasing an additional 3,413 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in U.S. Bancorp by 2.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 197,233 shares of the financial services provider's stock valued at $6,521,000 after purchasing an additional 4,996 shares during the period. Xponance Inc. increased its position in shares of U.S. Bancorp by 6.6% during the 3rd quarter. Xponance Inc. now owns 191,653 shares of the financial services provider's stock valued at $6,336,000 after purchasing an additional 11,824 shares during the last quarter. Raymond James & Associates grew its position in U.S. Bancorp by 0.7% during the third quarter. Raymond James & Associates now owns 3,670,367 shares of the financial services provider's stock valued at $121,342,000 after buying an additional 25,385 shares during the period. Finally, Arlington Trust Co LLC purchased a new stake in U.S. Bancorp during the third quarter worth about $39,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.08 during trading on Thursday, hitting $40.97. The company had a trading volume of 6,402,009 shares, compared to its average volume of 8,610,538. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $45.85. The stock has a market capitalization of $63.84 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.11 and a beta of 1.05. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock's 50-day moving average is $42.32 and its two-hundred day moving average is $40.35.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analysts' expectations of $6.71 billion. During the same quarter last year, the company posted $1.16 EPS. The business's quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts predict that U.S. Bancorp will post 3.85 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp's dividend payout ratio is currently 64.90%.

Wall Street Analyst Weigh In

USB has been the topic of a number of research analyst reports. HSBC upgraded shares of U.S. Bancorp from a "hold" rating to a "buy" rating and boosted their target price for the company from $47.00 to $53.00 in a research note on Thursday, March 28th. StockNews.com downgraded U.S. Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, February 20th. Jefferies Financial Group upped their price target on U.S. Bancorp from $44.00 to $46.00 and gave the company a "hold" rating in a research report on Monday, April 8th. Oppenheimer cut their price target on U.S. Bancorp from $55.00 to $54.00 and set an "outperform" rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada boosted their price objective on U.S. Bancorp from $43.00 to $47.00 and gave the company an "outperform" rating in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.02.

Insider Activity

In related news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total value of $895,005.54. Following the transaction, the executive vice president now owns 164,880 shares in the company, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

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.