U.S. Bancorp (NYSE:USB) Shares Sold by Watch Point Trust Co

Watch Point Trust Co trimmed its holdings in U.S. Bancorp (NYSE:USB) by 1.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,538 shares of the financial services provider’s stock after selling 1,255 shares during the period. U.S. Bancorp accounts for about 2.2% of Watch Point Trust Co’s holdings, making the stock its 16th biggest holding. Watch Point Trust Co’s holdings in U.S. Bancorp were worth $4,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Daily Journal Corp grew its holdings in shares of U.S. Bancorp by 9,900.0% in the second quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of U.S. Bancorp by 17,492.7% in the second quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock valued at $667,286,000 after purchasing an additional 12,662,079 shares during the period. APG Asset Management N.V. grew its holdings in shares of U.S. Bancorp by 115.2% in the second quarter. APG Asset Management N.V. now owns 3,824,226 shares of the financial services provider’s stock valued at $175,965,000 after purchasing an additional 2,046,900 shares during the period. Acadian Asset Management LLC grew its holdings in shares of U.S. Bancorp by 140.8% in the second quarter. Acadian Asset Management LLC now owns 2,005,750 shares of the financial services provider’s stock valued at $105,104,000 after purchasing an additional 1,172,955 shares during the period. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of U.S. Bancorp by 40.2% in the second quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock valued at $208,279,000 after purchasing an additional 1,140,289 shares during the period. Institutional investors and hedge funds own 75.50% of the company’s stock.

USB stock traded down $0.20 during mid-day trading on Friday, hitting $58.90. 3,152,308 shares of the company were exchanged, compared to its average volume of 5,770,772. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $92.33 billion, a P/E ratio of 14.37, a PEG ratio of 2.25 and a beta of 1.11. The business has a fifty day simple moving average of $55.56 and a 200-day simple moving average of $53.63. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $59.71.

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

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.85%. The ex-dividend date was Friday, September 27th. This is a positive change 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 that occurred on Tuesday, October 22nd. The shares were sold at an average price of $56.67, for a total value of $303,581.19. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. Also, Director David B. Omaley sold 10,133 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the completion of the transaction, the director now directly owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Bank of America lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $55.00 to $53.00 in a report on Monday, September 30th. Morgan Stanley upped their price objective on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Wedbush upped their price objective on shares of U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Piper Jaffray Companies set a $59.00 price objective on shares of U.S. Bancorp and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Citigroup lowered shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $54.00 to $49.00 in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price 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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