ArrowMark Colorado Holdings LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 45.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 206,332 shares of the financial services provider’s stock after selling 170,000 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in U.S. Bancorp were worth $11,055,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Advisor Group Inc. boosted its stake in U.S. Bancorp by 3.9% in the fourth quarter. Advisor Group Inc. now owns 92,381 shares of the financial services provider’s stock valued at $4,953,000 after acquiring an additional 3,483 shares in the last quarter. Dynamic Capital Management Ltd acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $927,000. Granite Springs Asset Management LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $231,000. JOYN Advisors Inc. acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $341,000. Finally, Ariel Investments LLC boosted its stake in U.S. Bancorp by 2.7% in the fourth quarter. Ariel Investments LLC now owns 387,748 shares of the financial services provider’s stock valued at $20,776,000 after acquiring an additional 10,339 shares in the last quarter. Institutional investors own 74.42% of the company’s stock.
In other U.S. Bancorp news, EVP Craig E. Gifford sold 45,890 shares of U.S. Bancorp stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total value of $2,540,011.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman P.W. Parker sold 98,485 shares of U.S. Bancorp stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $55.95, for a total transaction of $5,510,235.75. The disclosure for this sale can be found here. Insiders have sold 168,016 shares of company stock valued at $9,356,775 over the last 90 days. 0.43% of the stock is currently owned by insiders.
U.S. Bancorp (NYSE:USB) last posted its 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 company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. equities analysts anticipate that U.S. Bancorp will post 4.05 EPS for the current fiscal year.
Several equities research analysts have recently commented on USB shares. Jefferies Group reiterated a “buy” rating and set a $63.00 price objective on shares of U.S. Bancorp in a research note on Monday, January 8th. Vining Sparks reiterated a “buy” rating and set a $64.00 price objective on shares of U.S. Bancorp in a research note on Monday, January 8th. Deutsche Bank upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $63.00 in a research note on Thursday, January 25th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Friday, February 2nd. Finally, Oppenheimer reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, January 17th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $58.64.
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About U.S. Bancorp
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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