Independence Bank of Kentucky Sells 965 Shares of U.S. Bancorp (NYSE:USB)

Independence Bank of Kentucky lowered its position in U.S. Bancorp (NYSE:USB) by 1.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,275 shares of the financial services provider’s stock after selling 965 shares during the period. Independence Bank of Kentucky’s holdings in U.S. Bancorp were worth $2,249,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $26,000. FPC Investment Advisory Inc. bought a new stake in shares of U.S. Bancorp in the fourth quarter worth approximately $28,000. Stonebridge Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $30,000. Picton Mahoney Asset Management purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $30,000. Finally, Millstone Evans Group LLC purchased a new position in U.S. Bancorp in the fourth quarter worth about $31,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.5%

Shares of NYSE USB opened at $44.76 on Friday. U.S. Bancorp has a 1 year low of $35.18 and a 1 year high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market cap of $69.74 billion, a P/E ratio of 11.81, a PEG ratio of 1.73 and a beta of 0.99. The firm has a 50-day simple moving average of $41.15 and a two-hundred day simple moving average of $45.40.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The business had revenue of $6.96 billion for the quarter, compared to the consensus estimate of $6.92 billion. During the same period in the prior year, the firm earned $0.78 EPS. Research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.47%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 49.50%.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $559,800. This represents a 50.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Barclays dropped their price target on shares of U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Cowen started coverage on U.S. Bancorp in a research note on Wednesday, May 14th. They set a “buy” rating on the stock. Wall Street Zen cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.67.

U.S. Bancorp Profile

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.