Kensington Investment Counsel LLC Sells 9,004 Shares of U.S. Bancorp (NYSE:USB)

Kensington Investment Counsel LLC reduced its stake in shares of U.S. Bancorp (NYSE:USBFree Report) by 50.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,835 shares of the financial services provider’s stock after selling 9,004 shares during the period. Kensington Investment Counsel LLC’s holdings in U.S. Bancorp were worth $292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Moneta Group Investment Advisors LLC grew its position in U.S. Bancorp by 130,768.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. Mufg Bank LTD. grew its position in U.S. Bancorp by 54.1% during the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after purchasing an additional 24,000,000 shares during the period. Norges Bank acquired a new stake in U.S. Bancorp during the 4th quarter worth about $644,436,000. BlackRock Inc. grew its position in U.S. Bancorp by 6.0% during the 2nd quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock worth $3,657,692,000 after purchasing an additional 6,307,085 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its position in U.S. Bancorp by 58.1% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 16,116,140 shares of the financial services provider’s stock worth $532,477,000 after purchasing an additional 5,922,710 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the sale, the insider now owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares in the company, valued at approximately $4,313,616.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,439 shares of company stock valued at $2,865,224. 0.24% of the stock is currently owned by company insiders.

U.S. Bancorp Trading Down 0.5 %

USB opened at $40.18 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $42.18 and its two-hundred day simple moving average is $37.77. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $49.29. The firm has a market capitalization of $62.56 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04.

U.S. Bancorp (NYSE:USBGet Free Report) last released its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. During the same period last year, the company posted $1.20 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s payout ratio is presently 59.76%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on USB. Oppenheimer raised their target price on U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Friday, December 15th. Morgan Stanley raised their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Royal Bank of Canada raised their target price on U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Finally, Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 target price on the stock in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.35.

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U.S. Bancorp Company Profile

(Free Report)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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