Portland Global Advisors LLC Trims Stock Position in U.S. Bancorp (NYSE:USB)

Portland Global Advisors LLC lessened its stake in U.S. Bancorp (NYSE:USBGet Rating) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,121 shares of the financial services provider’s stock after selling 2,373 shares during the period. Portland Global Advisors LLC’s holdings in U.S. Bancorp were worth $3,195,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in USB. Norges Bank bought a new stake in U.S. Bancorp during the 4th quarter valued at $768,650,000. State Street Corp lifted its stake in shares of U.S. Bancorp by 3.0% in the 4th quarter. State Street Corp now owns 63,110,227 shares of the financial services provider’s stock worth $3,573,671,000 after purchasing an additional 1,841,651 shares during the period. BlackRock Inc. lifted its stake in shares of U.S. Bancorp by 1.9% in the 4th quarter. BlackRock Inc. now owns 95,616,688 shares of the financial services provider’s stock worth $5,370,789,000 after purchasing an additional 1,789,050 shares during the period. Schroder Investment Management Group raised its stake in U.S. Bancorp by 54.9% during the 4th quarter. Schroder Investment Management Group now owns 3,668,136 shares of the financial services provider’s stock worth $206,039,000 after acquiring an additional 1,299,437 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $52,720,000. Hedge funds and other institutional investors own 74.92% of the company’s stock.

U.S. Bancorp Stock Up 0.8 %

NYSE USB traded up $0.41 during trading on Monday, hitting $49.18. 162,620 shares of the company traded hands, compared to its average volume of 7,493,074. U.S. Bancorp has a 12 month low of $43.74 and a 12 month high of $63.57. The business has a fifty day simple moving average of $47.22 and a 200 day simple moving average of $51.53. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $73.07 billion, a P/E ratio of 11.21, a PEG ratio of 1.68 and a beta of 0.97.

U.S. Bancorp (NYSE:USBGet Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.89 billion. During the same period last year, the business earned $1.28 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 4.48 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Wednesday, June 29th. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.

Analyst Upgrades and Downgrades

Several research firms have commented on USB. Wolfe Research dropped their price objective on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Morgan Stanley boosted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Wells Fargo & Company dropped their target price on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Credit Suisse Group reduced their target price on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Finally, Citigroup upped their target price on U.S. Bancorp to $52.00 in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $58.47.

U.S. Bancorp Company Profile

(Get Rating)

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

Further Reading

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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