14,380 U.S. Bancorp $USB Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 10.5% during the third quarter, Holdings Channel reports. The firm owned 122,345 shares of the financial services provider’s stock after selling 14,380 shares during the period. U.S. Bancorp makes up approximately 1.7% of DMKC Advisory Services LLC’s portfolio, making the stock its 16th largest position. DMKC Advisory Services LLC’s holdings in U.S. Bancorp were worth $7,067,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of USB. Main Street Group LTD bought a new stake in U.S. Bancorp during the first quarter worth $28,000. Archer Investment Corp bought a new position in U.S. Bancorp during the 2nd quarter valued at $29,000. Parvin Asset Management LLC bought a new position in U.S. Bancorp during the 2nd quarter valued at $30,000. NFSG Corp purchased a new position in U.S. Bancorp during the 1st quarter worth $31,000. Finally, John Boyer Inc. purchased a new position in U.S. Bancorp during the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on USB. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Wolfe Research began coverage on shares of U.S. Bancorp in a report on Tuesday, October 27th. They set a “peer perform” rating on the stock. Citigroup cut their price target on shares of U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, October 16th. Royal Bank Of Canada reduced their price objective on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, October 16th. Finally, BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a research note on Monday, July 20th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Stock Up 2.6%

USB stock opened at $61.02 on Tuesday. The stock has a market cap of $95.06 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.16 and a beta of 1.02. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock’s fifty day simple moving average is $59.62 and its two-hundred day simple moving average is $58.21. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The company had revenue of $8.04 billion for 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 for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Analysts expect that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.5%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. 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.