U.S. Bancorp $USB Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 41.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,541 shares of the financial services provider’s stock after selling 12,332 shares during the quarter. Studio Investment Management LLC’s holdings in U.S. Bancorp were worth $861,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MJP Associates Inc. ADV acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $217,000. Essex Financial Services Inc. increased its position in U.S. Bancorp by 3.1% during the third quarter. Essex Financial Services Inc. now owns 10,296 shares of the financial services provider’s stock worth $498,000 after buying an additional 305 shares during the period. Syon Capital LLC lifted its stake in U.S. Bancorp by 17.9% in the third quarter. Syon Capital LLC now owns 12,907 shares of the financial services provider’s stock valued at $624,000 after buying an additional 1,957 shares during the last quarter. Advisors Capital Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $1,571,000. Finally, Burke & Herbert Bank & Trust Co. boosted its holdings in shares of U.S. Bancorp by 8.0% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 5,336 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 397 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on USB shares. DA Davidson upped their price target on shares of U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada lifted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Oppenheimer upped their target price on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on U.S. Bancorp from $58.00 to $59.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given 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 a consensus rating of “Moderate Buy” and an average target price of $59.79.

Insider Activity

In related news, insider Mark G. Runkel sold 32,195 shares of U.S. Bancorp 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Up 1.1%

Shares of USB stock opened at $58.79 on Thursday. The business’s fifty day moving average price is $55.79 and its 200 day moving average price is $50.62. The firm has a market capitalization of $91.38 billion, a PE ratio of 12.73, a P/E/G ratio of 1.04 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $7.92 billion during 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 firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is 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.