Clearbridge Investments LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,272,093 shares of the financial services provider’s stock after selling 55,231 shares during the quarter. Clearbridge Investments LLC owned about 0.38% of U.S. Bancorp worth $336,059,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock worth $5,481,092,000 after purchasing an additional 1,727,498 shares during the period. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 16,086,890 shares of the financial services provider’s stock worth $860,040,000 after buying an additional 287,089 shares in the last quarter. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 4.5% in the 3rd quarter. Janus Henderson Group PLC now owns 13,226,329 shares of the financial services provider’s stock worth $708,794,000 after buying an additional 572,794 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in U.S. Bancorp by 2.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 11,901,940 shares of the financial services provider’s stock worth $637,825,000 after buying an additional 276,373 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in U.S. Bancorp by 3.5% in the 4th quarter. American Century Companies Inc. now owns 9,521,784 shares of the financial services provider’s stock worth $510,177,000 after buying an additional 318,117 shares in the last quarter. Institutional investors and hedge funds own 74.42% of the company’s stock.
A number of brokerages recently issued reports on USB. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Morgan Stanley increased their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the stock an “underweight” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. lowered U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price objective for the company. in a report on Wednesday, January 31st. Vining Sparks reissued a “hold” rating and issued a $61.00 price objective on shares of U.S. Bancorp in a report on Thursday, January 25th. Finally, Deutsche Bank raised U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $63.00 in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $58.64.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.59 billion. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.82 EPS. equities research analysts predict that U.S. Bancorp will post 4.05 earnings per share for the current year.
In other news, Vice Chairman P.W. Parker sold 98,485 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $55.95, for a total transaction of $5,510,235.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig E. Gifford sold 45,890 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $55.35, for a total value of $2,540,011.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,016 shares of company stock valued at $9,356,775. 0.43% of the stock is currently owned by corporate insiders.
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U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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