Cable Hill Partners LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,440 shares of the financial services provider’s stock after selling 2,446 shares during the quarter. U.S. Bancorp makes up 0.4% of Cable Hill Partners LLC’s holdings, making the stock its 21st biggest holding. Cable Hill Partners LLC’s holdings in U.S. Bancorp were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. E Fund Management Co. Ltd. bought a new stake in U.S. Bancorp in the first quarter worth approximately $133,000. Panagora Asset Management Inc. increased its holdings in U.S. Bancorp by 7.6% in the first quarter. Panagora Asset Management Inc. now owns 33,153 shares of the financial services provider’s stock worth $1,834,000 after purchasing an additional 2,343 shares in the last quarter. Quilter Plc increased its holdings in U.S. Bancorp by 63.9% in the first quarter. Quilter Plc now owns 12,825 shares of the financial services provider’s stock worth $709,000 after purchasing an additional 4,998 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in U.S. Bancorp by 18.5% in the first quarter. Ensign Peak Advisors Inc now owns 787,170 shares of the financial services provider’s stock worth $43,539,000 after purchasing an additional 123,076 shares in the last quarter. Finally, Moors & Cabot Inc. increased its holdings in U.S. Bancorp by 10.4% in the first quarter. Moors & Cabot Inc. now owns 30,834 shares of the financial services provider’s stock worth $1,710,000 after purchasing an additional 2,912 shares in the last quarter. Institutional investors own 73.80% of the company’s stock.
USB stock traded down $2.08 during midday trading on Thursday, hitting $59.38. The company’s stock had a trading volume of 281,799 shares, compared to its average volume of 6,512,461. U.S. Bancorp has a 1 year low of $36.57 and a 1 year high of $63.00. The company has a quick ratio of 0.74, a current ratio of 0.76 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average price is $58.03 and its 200 day moving average price is $57.98. The stock has a market cap of $88.04 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.71 and a beta of 1.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Wednesday, September 29th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.42. U.S. Bancorp’s dividend payout ratio is currently 60.13%.
Several equities research analysts have recently commented on USB shares. Barclays boosted their price objective on U.S. Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Credit Suisse Group boosted their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, September 22nd. Odeon Capital Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Citigroup boosted their price objective on U.S. Bancorp from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, September 23rd. Finally, Jefferies Financial Group lifted their target price on U.S. Bancorp from $66.00 to $71.00 and gave the company a “buy” rating in a research report on Monday. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $63.10.
U.S. Bancorp Company Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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