Amalgamated Bank Cuts Stock Holdings in U.S. Bancorp $USB

Amalgamated Bank trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,067 shares of the financial services provider’s stock after selling 570 shares during the period. Amalgamated Bank’s holdings in U.S. Bancorp were worth $13,669,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $25,000. Saudi Central Bank purchased a new position in shares of U.S. Bancorp during the 1st quarter worth about $26,000. YANKCOM Partnership boosted its stake in shares of U.S. Bancorp by 59.4% during the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 260 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 420 shares during the period. Finally, Activest Wealth Management boosted its stake in shares of U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on USB. Bank of America lifted their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. UBS Group lifted their price target on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, October 23rd. Evercore ISI raised their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Finally, Cowen reissued a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $54.55.

Insider Activity at U.S. Bancorp

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

U.S. Bancorp Trading Up 0.3%

NYSE:USB opened at $46.79 on Friday. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. 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 firm has a market cap of $72.81 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.25 and a beta of 1.06. The firm has a 50-day simple moving average of $48.17 and a 200-day simple moving average of $45.43.

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

U.S. Bancorp Increases Dividend

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

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.