Cannell & Co. Reduces Position in U.S. Bancorp (NYSE:USB)

Cannell & Co. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,789 shares of the financial services provider’s stock after selling 1,475 shares during the period. Cannell & Co.’s holdings in U.S. Bancorp were worth $1,895,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mosaic Family Wealth Partners LLC raised its holdings in shares of U.S. Bancorp by 1.4% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 19,223 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 265 shares during the last quarter. Wealth Alliance grew its position in U.S. Bancorp by 0.5% during the fourth quarter. Wealth Alliance now owns 49,229 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 266 shares during the period. Perkins Capital Management Inc. grew its position in 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 valued at $495,000 after buying an additional 300 shares during the period. Cigna Investments Inc. New grew its position in 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 valued at $720,000 after buying an additional 308 shares during the period. Finally, Essex Savings Bank grew its position in U.S. Bancorp by 2.7% during the fourth 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 period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several analyst reports. HSBC upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $53.00 in a research report on Thursday, March 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. Oppenheimer dropped their price target on shares of U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. DA Davidson dropped their price target on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Finally, Jefferies Financial Group lifted their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.02.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP James L. Chosy sold 21,582 shares of U.S. Bancorp stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $41.05 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07. The company’s 50-day moving average price is $42.33 and its 200-day moving average price is $40.34. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company has a market cap of $63.96 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.11 and a beta of 1.05.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. U.S. Bancorp’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 3.85 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 4.77%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.