Caxton Associates LLP Lowers Holdings in U.S. Bancorp $USB

Caxton Associates LLP decreased its position in shares of U.S. Bancorp (NYSE:USB) by 85.1% during the first quarter, Holdings Channel.com reports. The firm owned 8,250 shares of the financial services provider’s stock after selling 47,129 shares during the period. Caxton Associates LLP’s holdings in U.S. Bancorp were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Norges Bank purchased a new stake in U.S. Bancorp in the 4th quarter worth $1,887,497,000. Auto Owners Insurance Co boosted its holdings 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 valued at $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. Capital Research Global Investors acquired a new position in U.S. Bancorp in the fourth quarter valued at approximately $296,377,000. Price T Rowe Associates Inc. MD lifted its stake in shares of U.S. Bancorp by 20.0% in 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 purchasing an additional 4,153,080 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in U.S. Bancorp by 63.2% during the fourth quarter. Victory Capital Management Inc. now owns 9,480,254 shares of the financial services provider’s stock worth $505,866,000 after buying an additional 3,672,742 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.7%

Shares of NYSE USB opened at $63.52 on Tuesday. The firm’s 50-day moving average is $59.09 and its two-hundred day moving average is $56.48. The company has a market capitalization of $98.52 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84.

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

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 41.52%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on USB. Raymond James Financial initiated coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price objective for the company. Morgan Stanley raised their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Oppenheimer increased their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Royal Bank Of Canada raised their price objective on U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Activity

In other news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.