Parkside Financial Bank & Trust Grows Stake in U.S. Bancorp (NYSE:USB)

Parkside Financial Bank & Trust raised its stake in U.S. Bancorp (NYSE:USB) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,911 shares of the financial services provider’s stock after acquiring an additional 784 shares during the period. Parkside Financial Bank & Trust’s holdings in U.S. Bancorp were worth $493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its position in shares of U.S. Bancorp by 1.7% during the second quarter. Equitable Trust Co. now owns 11,990 shares of the financial services provider’s stock valued at $628,000 after buying an additional 200 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its position in shares of U.S. Bancorp by 8.1% during the second quarter. Adams Diversified Equity Fund Inc. now owns 483,000 shares of the financial services provider’s stock valued at $25,309,000 after buying an additional 36,000 shares during the last quarter. FTB Advisors Inc. boosted its position in shares of U.S. Bancorp by 34.8% during the second quarter. FTB Advisors Inc. now owns 5,251 shares of the financial services provider’s stock valued at $274,000 after buying an additional 1,356 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of U.S. Bancorp by 2.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,615,250 shares of the financial services provider’s stock valued at $346,640,000 after buying an additional 144,372 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of U.S. Bancorp by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 160,241 shares of the financial services provider’s stock valued at $8,397,000 after buying an additional 936 shares during the last quarter. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

USB stock traded down $0.20 during trading on Friday, reaching $58.90. The stock had a trading volume of 3,152,308 shares, compared to its average volume of 5,770,772. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $59.71. The stock’s 50 day moving average is $55.56 and its two-hundred day moving average is $53.63. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.86. The firm has a market cap of $92.33 billion, a PE ratio of 14.37, a PEG ratio of 2.25 and a beta of 1.11.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.42 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s dividend payout ratio (DPR) is 40.98%.

In other news, insider Gillern Jeffry H. Von sold 5,357 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total value of $303,581.19. Following the transaction, the insider now owns 89,301 shares of the company’s stock, valued at $5,060,687.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David B. Omaley sold 10,133 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the transaction, the director now directly owns 191,754 shares in the company, valued at approximately $10,692,203.04. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Several equities research analysts recently commented on the company. Morgan Stanley increased their price objective on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, July 18th. Macquarie downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Thursday, August 1st. Credit Suisse Group reissued a “hold” rating and issued a $55.00 target price on shares of U.S. Bancorp in a report on Thursday, September 12th. UBS Group increased their target price on U.S. Bancorp from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Piper Jaffray Companies set a $59.00 target price on U.S. Bancorp and gave the company a “buy” rating in a report on Friday, September 13th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $56.67.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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

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