Manitou Investment Management Ltd. cut its stake in U.S. Bancorp (NYSE:USB) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,800 shares of the financial services provider’s stock after selling 9,990 shares during the quarter. U.S. Bancorp makes up approximately 4.5% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 12th largest holding. Manitou Investment Management Ltd.’s holdings in U.S. Bancorp were worth $18,694,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of USB. Equitable Trust Co. raised its holdings in U.S. Bancorp by 1.7% in the second quarter. Equitable Trust Co. now owns 11,990 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 200 shares in the last quarter. Adams Diversified Equity Fund Inc. lifted its position in shares of U.S. Bancorp by 8.1% during the 2nd quarter. Adams Diversified Equity Fund Inc. now owns 483,000 shares of the financial services provider’s stock valued at $25,309,000 after buying an additional 36,000 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of U.S. Bancorp by 34.8% during the 2nd quarter. FTB Advisors Inc. now owns 5,251 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,356 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of U.S. Bancorp by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,615,250 shares of the financial services provider’s stock valued at $346,640,000 after buying an additional 144,372 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of U.S. Bancorp by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 160,241 shares of the financial services provider’s stock valued at $8,397,000 after buying an additional 936 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors.
In related news, Director David B. Omaley sold 10,133 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.76, for a total transaction of $565,016.08. Following the completion of the transaction, the director now owns 191,754 shares in the company, valued at approximately $10,692,203.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gillern Jeffry H. Von sold 5,357 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $56.67, for a total value of $303,581.19. Following the transaction, the insider now owns 89,301 shares of the company’s stock, valued at approximately $5,060,687.67. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
Shares of U.S. Bancorp stock traded down $0.20 on Friday, reaching $58.90. The company had a trading volume of 3,152,308 shares, compared to its average volume of 5,770,772. The firm has a market cap of $92.33 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 2.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.83 and a quick ratio of 0.82. The firm’s 50-day moving average price is $55.56 and its two-hundred day moving average price is $53.63. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $59.71.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the previous year, the business earned $1.06 EPS. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts anticipate that U.S. Bancorp will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 2.85%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s payout ratio is presently 40.98%.
Several brokerages recently issued reports on USB. Bank of America downgraded U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $55.00 to $53.00 in a research note on Monday, September 30th. Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 price objective on shares of U.S. Bancorp in a research note on Thursday, September 12th. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a research note on Friday, July 26th. Macquarie downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research note on Thursday, August 1st. Finally, Citigroup cut U.S. Bancorp from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $54.00 to $49.00 in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.67.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Read More: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.