AMG National Trust Bank Decreases Stake in U.S. Bancorp (USB)
AMG National Trust Bank decreased its stake in U.S. Bancorp (NYSE:USB) by 0.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,467 shares of the financial services provider’s stock after selling 22 shares during the period. AMG National Trust Bank’s holdings in U.S. Bancorp were worth $4,009,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the company. A.R.T. Advisors LLC bought a new stake in U.S. Bancorp during the first quarter valued at $1,042,000. Lawson Kroeker Investment Management Inc. NE raised its stake in U.S. Bancorp by 5.3% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 40,076 shares of the financial services provider’s stock valued at $1,616,000 after buying an additional 2,010 shares in the last quarter. Park National Corp OH raised its stake in U.S. Bancorp by 0.5% in the second quarter. Park National Corp OH now owns 622,201 shares of the financial services provider’s stock valued at $25,093,000 after buying an additional 2,884 shares in the last quarter. Cardinal Capital Management Inc. raised its stake in U.S. Bancorp by 0.3% in the second quarter. Cardinal Capital Management Inc. now owns 274,450 shares of the financial services provider’s stock valued at $11,069,000 after buying an additional 925 shares in the last quarter. Finally, Howland Capital Management LLC raised its stake in U.S. Bancorp by 1.2% in the second quarter. Howland Capital Management LLC now owns 5,367 shares of the financial services provider’s stock valued at $216,000 after buying an additional 65 shares in the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) traded up 1.06% during midday trading on Wednesday, reaching $49.62. The company’s stock had a trading volume of 6,887,000 shares. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $49.77. The firm has a 50 day moving average price of $45.79 and a 200-day moving average price of $43.16. The firm has a market cap of $84.34 billion, a P/E ratio of 15.36 and a beta of 0.80.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.84 EPS for the quarter, hitting the consensus estimate of $0.84. U.S. Bancorp had a net margin of 26.24% and a return on equity of 13.92%. The firm had revenue of $5.39 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post $3.24 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on the company. Jefferies Group restated a “hold” rating and issued a $44.00 target price on shares of U.S. Bancorp in a report on Wednesday, August 10th. Portales Partners upgraded U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 25th. Wells Fargo & Co. restated a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Finally, Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.11.
In other news, Vice Chairman John R. Elmore sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $43.83, for a total value of $1,753,200.00. Following the sale, the insider now directly owns 113,723 shares of the company’s stock, valued at approximately $4,984,479.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Cecere sold 416,219 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $44.85, for a total transaction of $18,667,422.15. Following the completion of the sale, the insider now directly owns 633,704 shares in the company, valued at $28,421,624.40. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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