Bristlecone Advisors LLC Has $1.67 Million Position in U.S. Bancorp $USB

Bristlecone Advisors LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 14.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,990 shares of the financial services provider’s stock after selling 6,185 shares during the quarter. Bristlecone Advisors LLC’s holdings in U.S. Bancorp were worth $1,674,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Crestwood Advisors Group LLC grew its position in shares of U.S. Bancorp by 10.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 649 shares during the period. Ally Financial Inc. grew its position in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after purchasing an additional 10,000 shares during the period. United Community Bank grew its position in shares of U.S. Bancorp by 21.8% in the 1st quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after purchasing an additional 8,796 shares during the period. Jump Financial LLC grew its position in shares of U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock valued at $35,478,000 after purchasing an additional 799,368 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of U.S. Bancorp by 7.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,157 shares of the financial services provider’s stock valued at $9,844,000 after purchasing an additional 15,743 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.1%

NYSE USB opened at $47.28 on Wednesday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock has a market capitalization of $73.57 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.28 and a beta of 1.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50 day moving average price is $48.15 and its two-hundred day moving average price is $45.36.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is currently 47.60%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on USB shares. The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a research report on Thursday, October 23rd. Bank of America boosted their target price on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, October 17th. UBS Group boosted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp 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.