U.S. Bancorp (NYSE:USB) Position Trimmed by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its holdings in U.S. Bancorp (NYSE:USB) by 4.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 549,832 shares of the financial services provider’s stock after selling 24,583 shares during the quarter. State of Tennessee Department of Treasury’s holdings in U.S. Bancorp were worth $26,298,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Winch Advisory Services LLC raised its stake in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares during the period. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $26,000. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $28,000. Global Wealth Strategies & Associates lifted its holdings in shares of U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 5,000 shares of U.S. Bancorp stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at $559,800. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the sale, the insider now directly owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 219,812 shares of company stock valued at $10,385,665 over the last 90 days. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. Morgan Stanley dropped their target price on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada reduced their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Wolfe Research upgraded shares of U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Thursday, April 3rd. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $37.85 on Tuesday. The stock has a market capitalization of $58.97 billion, a P/E ratio of 9.99, a P/E/G ratio of 1.73 and a beta of 0.91. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The business has a 50-day moving average price of $42.35 and a two-hundred day moving average price of $46.76.

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

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

About U.S. Bancorp

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.