Chemical Bank reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,557 shares of the financial services provider’s stock after selling 1,885 shares during the quarter. Chemical Bank’s holdings in U.S. Bancorp were worth $1,720,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Horan Capital Management acquired a new stake in U.S. Bancorp during the 2nd quarter worth $109,000. Integrated Investment Consultants LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth $135,000. Field & Main Bank raised its stake in U.S. Bancorp by 49.9% during the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares in the last quarter. NEXT Financial Group Inc acquired a new stake in U.S. Bancorp during the 3rd quarter worth $181,000. Finally, Polaris Greystone Financial Group LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth $185,000. Hedge funds and other institutional investors own 74.42% of the company’s stock.
In other news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the business’s stock in a transaction dated Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, the insider now directly owns 124,086 shares in the company, valued at $6,565,390.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the business’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total transaction of $889,581.48. Following the transaction, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,406 shares of company stock worth $11,420,610. Company insiders own 0.43% of the company’s stock.
Shares of U.S. Bancorp stock opened at $53.15 on Friday. U.S. Bancorp has a 52-week low of $48.49 and a 52-week high of $58.50. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. The stock has a market cap of $85.07 billion, a PE ratio of 15.54, a PEG ratio of 1.71 and a beta of 0.91.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 4.1 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s payout ratio is 43.27%.
USB has been the topic of a number of recent research reports. ValuEngine upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Nomura dropped their price objective on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Citigroup lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, Oppenheimer upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research note on Thursday, October 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $59.36.
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U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Further Reading: Outstanding Shares and The Effect on Share Price
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