FineMark National Bank & Trust Sells 8,445 Shares of U.S. Bancorp $USB

FineMark National Bank & Trust cut its stake in shares of U.S. Bancorp (NYSE:USB) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,898 shares of the financial services provider’s stock after selling 8,445 shares during the period. FineMark National Bank & Trust’s holdings in U.S. Bancorp were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Curbstone Financial Management Corp boosted its holdings in U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after purchasing an additional 222 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 3.5% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after buying an additional 237 shares during the last quarter. Mechanics Financial Corp grew its holdings in shares of U.S. Bancorp by 5.3% in the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 240 shares in the last quarter. Northern Financial Advisors Inc grew its holdings in shares of U.S. Bancorp by 5.0% in the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 241 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE increased its position in shares of U.S. Bancorp by 0.5% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after acquiring an additional 249 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the business’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 completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. 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 note on Thursday, October 23rd. Oppenheimer dropped their target price on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company raised their price target 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. 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 report on Friday, October 17th. Finally, UBS Group increased their price objective on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.45.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $46.80 on Thursday. The company has a 50 day moving average of $47.65 and a 200 day moving average of $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. The stock has a market cap of $72.74 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.25 and a beta 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 announced 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. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a 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 is currently 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.