Ethic Inc. Sells 9,696 Shares of U.S. Bancorp $USB

Ethic Inc. lessened its holdings in U.S. Bancorp (NYSE:USB) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 272,413 shares of the financial services provider’s stock after selling 9,696 shares during the period. Ethic Inc.’s holdings in U.S. Bancorp were worth $15,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $2,680,199,000. Bank of America Corp DE increased its stake in shares of U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after acquiring an additional 1,022,898 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of U.S. Bancorp in the second quarter worth $536,457,000. Finally, First Trust Advisors LP raised its holdings in shares of U.S. Bancorp by 39.9% during the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research reports. HSBC boosted their target price on shares of U.S. Bancorp from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Royal Bank Of Canada cut their price target on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Evercore reiterated an “outperform” rating and set a $67.00 price objective (down from $72.00) on shares of U.S. Bancorp in a research note on Wednesday, October 28th. Oppenheimer lifted their price objective on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Finally, Robert W. Baird boosted their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $59.49 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The business’s 50 day moving average is $59.65 and its two-hundred day moving average is $58.18. The company has a market capitalization of $92.68 billion, a P/E ratio of 11.60, a P/E/G ratio of 1.13 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. Analysts expect that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio is 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.