Bank of New York Mellon Corp Sells 473,827 Shares of U.S. Bancorp $USB

Bank of New York Mellon Corp lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,434,217 shares of the financial services provider’s stock after selling 473,827 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of U.S. Bancorp worth $455,956,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of USB. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in U.S. Bancorp during the third quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new position in U.S. Bancorp during the second quarter valued at about $27,000. Pineridge Advisors LLC raised its holdings in 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 in the last quarter. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 1.3%

Shares of U.S. Bancorp stock opened at $55.79 on Thursday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.70. The stock has a market capitalization of $86.72 billion, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.07. The company has a 50-day simple moving average of $53.17 and a 200 day simple moving average of $49.28. 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 issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.31 billion. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. Research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research reports. Argus boosted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a report on Wednesday, January 21st. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, 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. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $58.19.

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.