U.S. Bancorp $USB Stake Lessened by Bank of Jackson Hole Trust

Bank of Jackson Hole Trust lessened its stake in U.S. Bancorp (NYSE:USB) by 9.8% in the second quarter, Holdings Channel reports. The institutional investor owned 7,523 shares of the financial services provider’s stock after selling 820 shares during the quarter. Bank of Jackson Hole Trust’s holdings in U.S. Bancorp were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Auto Owners Insurance Co increased its stake in shares of U.S. Bancorp by 1,760.2% in the second quarter. Auto Owners Insurance Co now owns 625,000 shares of the financial services provider’s stock worth $28,281,000 after buying an additional 591,402 shares during the last quarter. Austin Private Wealth LLC increased its stake in shares of U.S. Bancorp by 13.7% in the second quarter. Austin Private Wealth LLC now owns 7,307 shares of the financial services provider’s stock worth $331,000 after buying an additional 883 shares during the last quarter. Mizuho Markets Cayman LP bought a new stake in shares of U.S. Bancorp in the second quarter worth $35,613,000. New York Life Investment Management LLC increased its stake in shares of U.S. Bancorp by 1.1% in the second quarter. New York Life Investment Management LLC now owns 232,463 shares of the financial services provider’s stock worth $10,519,000 after buying an additional 2,581 shares during the last quarter. Finally, First National Trust Co bought a new stake in shares of U.S. Bancorp in the second quarter worth $232,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on USB shares. TD Cowen lifted their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Bank of America lifted their price objective on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. UBS Group lifted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, DA Davidson lifted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Stock Down 1.1%

U.S. Bancorp stock opened at $47.28 on Wednesday. The company has a 50-day simple moving average of $48.15 and a 200-day simple moving average of $45.36. The firm has a market capitalization of $73.57 billion, a P/E ratio of 10.82, a P/E/G 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. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98.

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

U.S. Bancorp Increases Dividend

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

Insider Activity

In other news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by corporate insiders.

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.