Carret Asset Management LLC Sells 950 Shares of U.S. Bancorp $USB

Carret Asset Management LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,584 shares of the financial services provider’s stock after selling 950 shares during the period. Carret Asset Management LLC’s holdings in U.S. Bancorp were worth $1,520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in USB. Crestwood Advisors Group LLC lifted its stake in shares of U.S. Bancorp by 10.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 649 shares during the last quarter. Ally Financial Inc. increased its holdings in shares of U.S. Bancorp by 12.3% in the 1st quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after acquiring an additional 10,000 shares during the period. United Community Bank lifted its position in shares of U.S. Bancorp by 21.8% during the first quarter. United Community Bank now owns 49,066 shares of the financial services provider’s stock valued at $2,072,000 after buying an additional 8,796 shares during the last quarter. Jump Financial LLC increased its position in shares of U.S. Bancorp by 1,952.5% during the first quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after purchasing an additional 799,368 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in U.S. Bancorp by 7.2% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 233,157 shares of the financial services provider’s stock worth $9,844,000 after acquiring an additional 15,743 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on USB shares. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Monday, October 20th. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Bank of America lifted their target price on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Stock Down 1.5%

U.S. Bancorp stock opened at $46.56 on Thursday. 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 stock has a 50 day moving average of $48.16 and a two-hundred day moving average of $45.42. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock has a market capitalization of $72.45 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.26 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Activity at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

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.