U.S. Bancorp $USB Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its holdings in U.S. Bancorp (NYSE:USB) by 75.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,673 shares of the financial services provider’s stock after selling 84,283 shares during the period. Pinnacle Financial Partners Inc’s holdings in U.S. Bancorp were worth $1,337,000 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. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 3rd quarter worth $26,000. IMG Wealth Management Inc. acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. Hillsdale Investment Management Inc. purchased a new position in U.S. Bancorp during the second quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of U.S. Bancorp during the third quarter valued at about $31,000. Finally, Pineridge Advisors LLC raised its stake in shares of U.S. Bancorp by 446.2% in the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on USB shares. Evercore ISI set a $60.00 target price on shares of U.S. Bancorp in a report on Tuesday, January 6th. Bank of America boosted their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a report on Friday, October 17th. Barclays raised their target price on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.30.

U.S. Bancorp Trading Up 1.0%

Shares of NYSE:USB opened at $54.48 on Friday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $56.19. The company’s 50 day moving average is $51.80 and its two-hundred day moving average is $48.84. The company has a market cap of $84.69 billion, a PE ratio of 12.47, a P/E/G ratio of 0.94 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping 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 firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.