Brandywine Global Investment Management LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,520,291 shares of the financial services provider’s stock after selling 204,744 shares during the period. Brandywine Global Investment Management LLC owned 0.09% of U.S. Bancorp worth $81,458,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $106,000. Delpha Capital Management LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $109,000. James Hambro & Partners purchased a new position in U.S. Bancorp in the fourth quarter valued at approximately $110,000. Horan Capital Advisors LLC. purchased a new position in U.S. Bancorp in the third quarter valued at approximately $112,000. Finally, Phocas Financial Corp. purchased a new position in U.S. Bancorp in the second quarter valued at approximately $109,000. Institutional investors and hedge funds own 74.42% of the company’s stock.
In other news, Vice Chairman P.W. Parker sold 98,485 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig E. Gifford sold 45,890 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $55.35, for a total transaction of $2,540,011.50. The disclosure for this sale can be found here. Insiders have sold 168,016 shares of company stock valued at $9,356,775 in the last three months. Corporate insiders own 0.43% of the company’s stock.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.59 billion. U.S. Bancorp had a net margin of 25.91% and a return on equity of 13.89%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. sell-side analysts forecast that U.S. Bancorp will post 4.05 EPS for the current fiscal year.
Several research analysts recently commented on the stock. Vining Sparks restated a “buy” rating and issued a $64.00 price target on shares of U.S. Bancorp in a report on Monday, January 8th. UBS Group lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and raised their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 12th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 price target on the stock. in a report on Wednesday, January 31st. Barclays raised their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Oppenheimer restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, January 17th. Four 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 a consensus price target of $58.64.
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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