Kornitzer Capital Management Inc. KS Has $2.48 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Kornitzer Capital Management Inc. KS decreased its holdings in U.S. Bancorp (NYSE:USB) by 6.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,343 shares of the financial services provider’s stock after selling 3,755 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in U.S. Bancorp were worth $2,482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CGC Financial Services LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth about $26,000. Planned Solutions Inc. acquired a new stake in U.S. Bancorp in the 4th quarter worth about $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter worth about $30,000. Finally, Legacy Financial Group LLC acquired a new stake in U.S. Bancorp in the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. UBS Group cut their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday. Jefferies Financial Group upped their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Finally, Morgan Stanley upped their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.14.

Insider Buying and Selling at U.S. Bancorp

In other 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 completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other 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 completion of the sale, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP James L. Chosy sold 21,582 shares of the stock in a transaction 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 sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 2.6 %

Shares of NYSE USB opened at $40.45 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85. The firm has a 50 day moving average price of $42.32 and a two-hundred day moving average price of $39.84. The stock has a market cap of $63.03 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (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 firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.85%. The ex-dividend date was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

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.