Commerce Bank Reduces Stock Holdings in U.S. Bancorp (NYSE:USB)

Commerce Bank reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 7.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 411,646 shares of the financial services provider’s stock after selling 30,979 shares during the period. Commerce Bank’s holdings in U.S. Bancorp were worth $19,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Capital Performance Advisors LLP boosted its position in U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 210 shares in the last quarter. HCR Wealth Advisors boosted its holdings in U.S. Bancorp by 1.1% during the fourth quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after buying an additional 211 shares in the last quarter. Covestor Ltd grew its position in U.S. Bancorp by 12.3% during the fourth quarter. Covestor Ltd now owns 1,955 shares of the financial services provider’s stock valued at $94,000 after buying an additional 214 shares during the period. Priebe Wealth Holdings LLC increased its holdings in U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock valued at $243,000 after buying an additional 215 shares in the last quarter. Finally, Essex Savings Bank raised its position in shares of U.S. Bancorp by 1.8% in the fourth quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 30,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the sale, the insider now owns 99,790 shares of the company’s stock, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the completion of the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This trade represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 219,812 shares of company stock worth $10,385,665 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Citigroup dropped their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Oppenheimer upped their price target on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Barclays lowered their price objective on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $50.66.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $38.21 on Friday. The firm has a market cap of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business’s fifty day simple moving average is $42.55 and its 200-day simple moving average is $46.77.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The company had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter last year, the firm posted $0.78 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

U.S. Bancorp Company Profile

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.