Migdal Insurance & Financial Holdings Ltd. Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Migdal Insurance & Financial Holdings Ltd. cut its stake in U.S. Bancorp (NYSE:USB) by 76.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 924 shares of the financial services provider’s stock after selling 3,054 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in U.S. Bancorp were worth $40,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in U.S. Bancorp by 5.0% in the third quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after buying an additional 6,479,642 shares in the last quarter. Mufg Bank LTD. increased its holdings in U.S. Bancorp by 54.1% in the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after buying an additional 24,000,000 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in U.S. Bancorp by 130,768.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after buying an additional 60,227,825 shares in the last quarter. FMR LLC boosted its position in U.S. Bancorp by 1.8% during the third quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock worth $1,238,765,000 after acquiring an additional 674,583 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,120,947 shares of the financial services provider’s stock worth $1,028,859,000 after acquiring an additional 1,610,004 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock opened at $39.44 on Friday. The firm has a market cap of $61.45 billion, a P/E ratio of 13.06, a P/E/G ratio of 2.04 and a beta of 1.05. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a 1-year low of $27.27 and a 1-year high of $45.85. The firm has a fifty day moving average of $42.31 and a two-hundred day moving average of $39.72.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the business posted $1.16 EPS. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

Analysts Set New Price Targets

A number of analysts recently issued reports on USB shares. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their target price for the stock from $47.00 to $53.00 in a research report on Thursday, March 28th. Jefferies Financial Group lifted their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. Royal Bank of Canada lifted their price target on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, January 18th. Finally, Evercore ISI lifted their price target on shares of U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.91.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated 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 directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the sale, the insider now directly owns 144,236 shares in the company, valued at approximately $6,255,515.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp 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.