King Luther Capital Management Corp Decreases Stock Holdings in U.S. Bancorp $USB

King Luther Capital Management Corp cut its holdings in U.S. Bancorp (NYSE:USB) by 10.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,986 shares of the financial services provider’s stock after selling 32,831 shares during the quarter. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $12,669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. IMG Wealth Management Inc. purchased a new stake in U.S. Bancorp during the second quarter valued at approximately $25,000. Saudi Central Bank bought a new position in U.S. Bancorp during the first quarter valued at $26,000. Activest Wealth Management raised its stake in shares of U.S. Bancorp by 846.5% in the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 728 shares during the period. Groupe la Francaise bought a new stake in shares of U.S. Bancorp in the 1st quarter worth about $41,000. Finally, Meeder Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 118.4% during the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 535 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.0%

NYSE:USB opened at $47.32 on Monday. 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 50-day simple moving average of $47.95 and a 200-day simple moving average of $45.88. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm has a market cap of $73.64 billion, a P/E ratio of 10.83, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. The company had revenue of $7.34 billion for 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%. U.S. Bancorp’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value 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. The trade was a 10.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Bank of America increased their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.55.

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.