U.S. Bancorp $USB Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its position in U.S. Bancorp (NYSE:USB) by 44.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,310 shares of the financial services provider’s stock after selling 18,563 shares during the quarter. Shell Asset Management Co.’s holdings in U.S. Bancorp were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC lifted its holdings in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC grew its position in U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 714 shares in the last quarter. Intech Investment Management LLC raised its stake in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at $425,000. Finally, Nordea Investment Management AB boosted its position in shares of U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after buying an additional 1,311,746 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB stock opened at $57.66 on Monday. The firm has a 50 day moving average of $55.43 and a two-hundred day moving average of $50.37. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The company has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.03 and a beta of 1.06. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 45.02%.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares in the company, valued at approximately $5,927,203.20. The trade was a 24.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective for the company in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp 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.