U.S. Bancorp $USB Stock: King Luther Capital Management Corp Trims Position

King Luther Capital Management Corp decreased its stake in U.S. Bancorp (NYSE:USB) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 207,110 shares of the financial services provider’s stock after selling 15,196 shares during the period. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $11,963,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the 2nd quarter worth $2,680,199,000. Bank of America Corp DE lifted its position in U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after acquiring an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the second quarter valued at $536,457,000. Finally, First Trust Advisors LP boosted its stake in U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after acquiring an additional 2,314,081 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $60.53 on Friday. The company has a 50-day simple moving average of $59.55 and a 200-day simple moving average of $58.28. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $94.32 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.16 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. On average, analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is 42.11%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and set a $67.00 price objective (down from $72.00) on shares of U.S. Bancorp in a report on Wednesday, October 28th. Citigroup reduced their target price on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, October 16th. HSBC upped their target price on U.S. Bancorp from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Raymond James Financial dropped their price target on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, October 6th. Finally, Morgan Stanley set a $68.00 price target on U.S. Bancorp in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.