Cary Street Partners Investment Advisory LLC Trims Holdings in U.S. Bancorp (NYSE:USB)

Cary Street Partners Investment Advisory LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 15,847 shares of the financial services provider’s stock after selling 929 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in U.S. Bancorp were worth $686,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mosaic Family Wealth Partners LLC raised its stake in U.S. Bancorp by 1.4% during the 4th quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock valued at $832,000 after acquiring an additional 265 shares during the last quarter. Wealth Alliance raised its stake in shares of U.S. Bancorp by 0.5% during the fourth quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 266 shares during the last quarter. Perkins Capital Management Inc. lifted its holdings in shares of U.S. Bancorp by 2.0% during the third quarter. Perkins Capital Management Inc. now owns 14,984 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 300 shares during the period. Cigna Investments Inc. New lifted its holdings in shares of U.S. Bancorp by 1.9% during the fourth quarter. Cigna Investments Inc. New now owns 16,632 shares of the financial services provider’s stock worth $720,000 after purchasing an additional 308 shares during the period. Finally, Essex Savings Bank grew its position in U.S. Bancorp by 2.7% in the 4th quarter. Essex Savings Bank now owns 11,685 shares of the financial services provider’s stock valued at $506,000 after buying an additional 309 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company cut 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 report on Thursday, April 18th. DA Davidson cut their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Compass Point raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $49.00 in a report on Friday, March 22nd. StockNews.com downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Finally, Barclays decreased their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $46.14.

Insider Buying and Selling

In other U.S. Bancorp news, 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 transaction, the executive vice president now owns 164,880 shares of the company’s stock, valued at approximately $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 1.6 %

USB stock opened at $40.63 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The company’s 50 day simple moving average is $42.33 and its 200-day simple moving average is $40.34. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $45.85. The firm has a market capitalization of $63.31 billion, a PE ratio of 13.45, a P/E/G ratio of 2.15 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. U.S. Bancorp’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities analysts expect that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

About U.S. Bancorp

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.