Corundum Group Inc. Sells 1,684 Shares of U.S. Bancorp (NYSE:USB)

Corundum Group Inc. reduced its stake in U.S. Bancorp (NYSE:USB) by 7.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,723 shares of the financial services provider’s stock after selling 1,684 shares during the quarter. Corundum Group Inc.’s holdings in U.S. Bancorp were worth $854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. boosted its position in shares of U.S. Bancorp by 2.9% during the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 990 shares during the period. National Bank of Canada FI grew its stake in shares of U.S. Bancorp by 292.1% during the 3rd quarter. National Bank of Canada FI now owns 1,386,413 shares of the financial services provider’s stock worth $44,555,000 after acquiring an additional 1,032,866 shares in the last quarter. Tealwood Asset Management Inc. grew its stake in shares of U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after acquiring an additional 15,665 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of U.S. Bancorp by 19.4% in the third quarter. Van ECK Associates Corp now owns 8,677,378 shares of the financial services provider’s stock valued at $286,874,000 after purchasing an additional 1,410,324 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of U.S. Bancorp by 104.3% in the fourth quarter. SG Americas Securities LLC now owns 105,090 shares of the financial services provider’s stock worth $4,548,000 after purchasing an additional 53,653 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total transaction of $487,993.00. Following the completion of the sale, the insider now directly owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The disclosure for this sale can be found here. Insiders sold a total of 60,265 shares of company stock worth $2,535,903 over the last three months. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 0.4 %

USB opened at $42.92 on Friday. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 2.23 and a beta of 1.05. The company’s 50 day moving average price is $42.21 and its two-hundred day moving average price is $39.15. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.71 by $0.28. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. As a group, research analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.57%. The ex-dividend date is Wednesday, March 27th. U.S. Bancorp’s payout ratio is presently 59.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on USB shares. UBS Group lifted their price target on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Wells Fargo & Company increased their price target on U.S. Bancorp from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, December 14th. Stephens lowered U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, December 20th. Robert W. Baird downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Friday, December 15th. Finally, TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.41.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.