KCM Investment Advisors LLC Has $909,000 Position in U.S. Bancorp $USB

KCM Investment Advisors LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 19.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,085 shares of the financial services provider’s stock after selling 4,975 shares during the quarter. KCM Investment Advisors LLC’s holdings in U.S. Bancorp were worth $909,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Curbstone Financial Management Corp raised its holdings in shares of U.S. Bancorp by 0.6% in the 2nd quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after buying an additional 222 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in 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 valued at $318,000 after buying an additional 237 shares in the last quarter. Mechanics Financial Corp grew its position in 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 during the period. Northern Financial Advisors Inc raised its stake in U.S. Bancorp by 5.0% during the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 241 shares in the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE raised its stake in 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 worth $2,086,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 1.0%

USB opened at $47.32 on Friday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock has a market capitalization of $73.64 billion, a PE ratio of 10.83, a PEG ratio of 1.25 and a beta of 1.10. 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 firm has a 50-day moving average price of $47.95 and a two-hundred day moving average price of $45.84.

U.S. Bancorp (NYSE:USB) last released 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 business had revenue of $7.34 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $1.03 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share 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. Shareholders of record on Tuesday, September 30th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date 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 47.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on USB shares. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Oppenheimer cut their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. DA Davidson boosted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Morgan Stanley reaffirmed a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.55.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents 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 business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman directly owned 1,360,414 shares of the company’s stock, 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. 0.23% of the stock is currently owned by company insiders.

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.