U.S. Bancorp $USB Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. cut its holdings in U.S. Bancorp (NYSE:USB) by 31.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 62,100 shares of the financial services provider’s stock after selling 28,680 shares during the period. Lockheed Martin Investment Management Co.’s holdings in U.S. Bancorp were worth $3,587,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Gryphon Financial Partners LLC acquired a new stake in shares of U.S. Bancorp during the 3rd quarter worth approximately $266,000. AlphaCore Capital LLC boosted its position in U.S. Bancorp by 164.2% during the 3rd quarter. AlphaCore Capital LLC now owns 70,308 shares of the financial services provider’s stock valued at $4,095,000 after purchasing an additional 43,696 shares during the period. Leuthold Group LLC grew its stake in U.S. Bancorp by 9.9% during the 3rd quarter. Leuthold Group LLC now owns 101,249 shares of the financial services provider’s stock worth $5,848,000 after buying an additional 9,094 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in U.S. Bancorp during the 3rd quarter worth $773,000. Finally, Allspring Global Investments Holdings LLC grew its stake in U.S. Bancorp by 11.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 244,098 shares of the financial services provider’s stock worth $14,001,000 after buying an additional 24,596 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. DA Davidson reiterated a “buy” rating and issued a $73.00 target price (up from $65.00) on shares of U.S. Bancorp in a research note on Friday, October 16th. Argus boosted their price target on shares of U.S. Bancorp from $63.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, July 16th. TD Cowen started coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They issued a “buy” rating and a $70.00 price objective on the stock. HSBC lifted their price objective on shares of U.S. Bancorp from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Finally, Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $68.65.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 2.6%

Shares of U.S. Bancorp stock opened at $61.02 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The business’s fifty day moving average price is $59.62 and its two-hundred day moving average price is $58.21. The company has a market capitalization of $95.06 billion, a P/E ratio of 11.89, 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 the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. As a group, research analysts forecast 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. Investors of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.5%. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

U.S. Bancorp 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.

Headquartered in Minneapolis, Minnesota, U.S.