U.S. Bancorp $USB Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,516 shares of the financial services provider’s stock after selling 18,490 shares during the quarter. U.S. Bancorp comprises 1.4% of Palisade Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Palisade Asset Management LLC’s holdings in U.S. Bancorp were worth $14,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $25,000. Rossby Financial LCC raised its stake in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares during the period. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $28,000. Finally, Westfuller Advisors LLC raised its stake in shares of U.S. Bancorp by 54.7% in the 4th quarter. Westfuller Advisors LLC now owns 608 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 215 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

USB has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. DA Davidson reissued a “buy” rating and issued a $65.00 price target on shares of U.S. Bancorp in a research note on Friday, April 17th. Jefferies Financial Group reissued a “hold” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Thursday, April 16th. Finally, Oppenheimer boosted their price target on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Price Performance

Shares of USB opened at $58.90 on Monday. U.S. Bancorp has a fifty-two week low of $42.55 and a fifty-two week high of $61.19. The firm’s 50 day moving average price is $55.25 and its 200 day moving average price is $54.58. The company has a market cap of $91.37 billion, a P/E ratio of 12.35, a PEG ratio of 1.07 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 5.07 earnings per share for the current fiscal year.

About U.S. Bancorp

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.