Oppenheimer Asset Management Inc. Sells 9,625 Shares of U.S. Bancorp $USB

Oppenheimer Asset Management Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 15.3% in the third quarter, HoldingsChannel.com reports. The fund owned 53,472 shares of the financial services provider’s stock after selling 9,625 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in U.S. Bancorp were worth $2,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $25,000. Guerra Advisors Inc acquired a new stake in shares of U.S. Bancorp in the third quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of U.S. Bancorp in the third quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new position in shares of U.S. Bancorp in the second quarter valued at about $27,000. Finally, Pineridge Advisors LLC raised its holdings in shares of U.S. Bancorp by 446.2% in the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 522 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider owned 97,728 shares in the company, valued at approximately $5,927,203.20. This trade represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on USB shares. Evercore increased their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, February 5th. The Goldman Sachs Group set a $52.00 price target on shares of U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Citigroup upped their price objective on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Price Performance

Shares of USB stock opened at $57.82 on Friday. The firm’s 50 day moving average price is $55.30 and its two-hundred day moving average price is $50.23. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $61.19. The stock has a market cap of $89.87 billion, a PE ratio of 12.51, a PEG ratio of 1.06 and a beta of 1.06.

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

U.S. Bancorp Announces Dividend

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

U.S. Bancorp Company 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.