NBT Bank N A NY Increases Position in U.S. Bancorp $USB

NBT Bank N A NY increased its position in shares of U.S. Bancorp (NYSE:USB) by 41.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,210 shares of the financial services provider’s stock after acquiring an additional 10,615 shares during the quarter. NBT Bank N A NY’s holdings in U.S. Bancorp were worth $1,883,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in U.S. Bancorp in the fourth quarter valued at $1,887,497,000. Auto Owners Insurance Co boosted its stake in U.S. Bancorp by 5,236.0% in the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after buying an additional 32,725,000 shares during the last quarter. Capital Research Global Investors purchased a new stake in U.S. Bancorp in the 4th quarter valued at about $296,377,000. SG Americas Securities LLC increased its stake in shares of U.S. Bancorp by 3,451.9% during the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock valued at $231,191,000 after acquiring an additional 4,210,676 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of U.S. Bancorp by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer decreased their target price on shares of U.S. Bancorp from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Stephens initiated coverage on U.S. Bancorp in a report on Monday, June 15th. They set an “equal weight” rating and a $63.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.57.

U.S. Bancorp Trading Down 0.1%

Shares of USB stock opened at $61.67 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $62.38. The firm’s 50 day moving average price is $56.57 and its two-hundred day moving average price is $55.51. The stock has a market cap of $95.67 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Insider Activity

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company’s stock, valued at $11,813,307. The trade was a 16.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.