Los Angeles Capital Management LLC Sells 2,585,986 Shares of U.S. Bancorp $USB

Los Angeles Capital Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 66.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,287,733 shares of the financial services provider’s stock after selling 2,585,986 shares during the quarter. Los Angeles Capital Management LLC’s holdings in U.S. Bancorp were worth $58,270,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in U.S. Bancorp by 118.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares during the period. LBP AM SA lifted its stake in U.S. Bancorp by 91.1% in the first quarter. LBP AM SA now owns 35,253 shares of the financial services provider’s stock valued at $1,488,000 after buying an additional 16,803 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of U.S. Bancorp by 0.5% during the first quarter. Cerity Partners LLC now owns 729,100 shares of the financial services provider’s stock worth $30,789,000 after acquiring an additional 3,869 shares during the period. Finally, WESPAC Advisors LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at $486,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

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

U.S. Bancorp Stock Up 1.0%

Shares of USB stock opened at $47.32 on Friday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The stock has a market cap of $73.64 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.25 and a beta of 1.10. The firm’s 50-day moving average is $47.95 and its 200-day moving average is $45.79. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82.

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 for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.4%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s payout ratio is 47.60%.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. UBS Group increased their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Citigroup increased their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. TD Cowen lifted their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. DA Davidson upped their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.55.

U.S. Bancorp Company 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.