Rockefeller Capital Management L.P. Acquires 11,833 Shares of U.S. Bancorp $USB

Rockefeller Capital Management L.P. lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 307,626 shares of the financial services provider’s stock after acquiring an additional 11,833 shares during the period. Rockefeller Capital Management L.P.’s holdings in U.S. Bancorp were worth $14,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cornerstone Advisors LLC boosted its stake in U.S. Bancorp by 17.0% in the second quarter. Cornerstone Advisors LLC now owns 97,200 shares of the financial services provider’s stock valued at $4,398,000 after buying an additional 14,100 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in U.S. Bancorp by 24.3% during the second quarter. Citizens Financial Group Inc. RI now owns 77,296 shares of the financial services provider’s stock worth $3,498,000 after acquiring an additional 15,117 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its holdings in shares of U.S. Bancorp by 19.5% in the second quarter. Ontario Teachers Pension Plan Board now owns 14,806 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 2,413 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of U.S. Bancorp by 3.7% in the second quarter. Avantax Advisory Services Inc. now owns 153,221 shares of the financial services provider’s stock worth $6,933,000 after acquiring an additional 5,471 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of U.S. Bancorp by 43.5% in the 2nd quarter. Intech Investment Management LLC now owns 56,370 shares of the financial services provider’s stock valued at $2,551,000 after purchasing an additional 17,094 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction 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 in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction on 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 sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.1%

NYSE USB opened at $45.95 on Wednesday. The firm has a market capitalization of $71.43 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The business’s 50-day moving average price is $47.69 and its two-hundred day moving average price is $46.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $53.98.

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, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. On average, analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is currently 47.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on USB shares. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research report on Monday, October 20th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, October 23rd. Finally, Citigroup upped their target price on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Company 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.