Charter Trust Co. reduced its holdings in U.S. Bancorp (NYSE:USB) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,060 shares of the financial services provider’s stock after selling 3,107 shares during the quarter. Charter Trust Co.’s holdings in U.S. Bancorp were worth $1,218,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of USB. Acadian Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $197,000. Smith Asset Management Group LP raised its holdings in shares of U.S. Bancorp by 6.8% in the 2nd quarter. Smith Asset Management Group LP now owns 449,067 shares of the financial services provider’s stock valued at $22,496,000 after purchasing an additional 28,771 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of U.S. Bancorp by 0.8% in the 2nd quarter. Victory Capital Management Inc. now owns 644,799 shares of the financial services provider’s stock valued at $32,253,000 after purchasing an additional 4,951 shares in the last quarter. Spinnaker Trust raised its holdings in shares of U.S. Bancorp by 632.6% in the 2nd quarter. Spinnaker Trust now owns 38,344 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 33,110 shares in the last quarter. Finally, Advanced Asset Management Advisors Inc raised its holdings in shares of U.S. Bancorp by 32.2% in the 2nd quarter. Advanced Asset Management Advisors Inc now owns 48,029 shares of the financial services provider’s stock valued at $2,402,000 after purchasing an additional 11,701 shares in the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.
Shares of NYSE:USB opened at $51.76 on Friday. U.S. Bancorp has a 12 month low of $48.49 and a 12 month 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 firm has a market cap of $85.01 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.71 and a beta of 0.90.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. U.S. Bancorp’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. Equities analysts expect that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
A number of brokerages have recently weighed in on USB. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Thursday, November 29th. Standpoint Research lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and lifted their price target for the stock from $54.16 to $63.00 in a research note on Monday, November 26th. They noted that the move was a valuation call. Deutsche Bank lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Citigroup lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday, November 2nd. Finally, UBS Group set a $56.00 price target on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.61.
In other U.S. Bancorp news, Director David B. Omaley sold 10,902 shares of U.S. Bancorp stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $53.66, for a total value of $585,001.32. Following the transaction, the director now directly owns 212,789 shares in the company, valued at $11,418,257.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of U.S. Bancorp stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the completion of 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 90 days, insiders sold 253,073 shares of company stock worth $13,383,882. 0.43% of the stock is currently owned by company insiders.
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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.
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