ABN Amro Investment Solutions Lowers Stock Position in U.S. Bancorp $USB

ABN Amro Investment Solutions cut its stake in shares of U.S. Bancorp (NYSE:USB) by 32.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,205 shares of the financial services provider’s stock after selling 81,756 shares during the quarter. ABN Amro Investment Solutions’ holdings in U.S. Bancorp were worth $8,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oslo Pensjonsforsikring AS purchased a new stake in U.S. Bancorp in the 1st quarter worth $505,000. HORAN Wealth LLC raised its holdings in U.S. Bancorp by 100.5% during the first quarter. HORAN Wealth LLC now owns 73,608 shares of the financial services provider’s stock valued at $3,847,000 after acquiring an additional 36,904 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in shares of U.S. Bancorp in the first quarter valued at about $781,000. Wilkerson Advisory Group LLC lifted its position in shares of U.S. Bancorp by 103.9% in the first quarter. Wilkerson Advisory Group LLC now owns 1,658 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 845 shares in the last quarter. Finally, Glenview Trust Co boosted its stake in shares of U.S. Bancorp by 20.3% in the first quarter. Glenview Trust Co now owns 108,296 shares of the financial services provider’s stock worth $5,632,000 after acquiring an additional 18,302 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Oppenheimer increased their target price on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday. Citigroup restated a “buy” rating on shares of U.S. Bancorp in a research note on Tuesday. DA Davidson increased their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $67.00.

U.S. Bancorp Trading Up 1.2%

Shares of USB stock opened at $64.48 on Thursday. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The stock’s 50-day moving average price is $58.48 and its 200-day moving average price is $56.30. The stock has a market capitalization of $100.02 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the company earned $1.11 earnings per share. Equities research analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

About U.S. Bancorp

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.