Whittier Trust Co. of Nevada Inc. Has $870,000 Holdings in U.S. Bancorp (NYSE:USB)

Whittier Trust Co. of Nevada Inc. cut its stake in shares of U.S. Bancorp (NYSE:USBFree Report) by 19.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,463 shares of the financial services provider’s stock after selling 4,714 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in U.S. Bancorp were worth $870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. grew its position in 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 valued at $1,158,000 after purchasing an additional 990 shares in the last quarter. Focus Financial Network Inc. ADV purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $5,440,000. Spinnaker Trust purchased a new position in U.S. Bancorp during the fourth quarter valued at approximately $220,000. Morningstar Investment Management LLC grew its position in U.S. Bancorp by 760.8% during the fourth quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock valued at $3,628,000 after purchasing an additional 74,094 shares in the last quarter. Finally, Tealwood Asset Management Inc. grew its position in U.S. Bancorp by 33.4% in the fourth 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. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.01 during mid-day trading on Wednesday, reaching $39.86. The company’s stock had a trading volume of 267,510 shares, compared to its average volume of 8,267,398. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $45.85. The company has a market cap of $62.20 billion, a P/E ratio of 13.20, a PEG ratio of 3.81 and a beta of 1.04. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm’s 50-day moving average is $40.13 and its two-hundred day moving average is $41.48.

U.S. Bancorp (NYSE:USBGet Free Report) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 3.83 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.92%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Analyst Ratings Changes

Several research firms have commented on USB. Evercore ISI boosted their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Barclays decreased their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $45.00 price objective on shares of U.S. Bancorp in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $45.84.

Check Out Our Latest Stock Analysis on USB

U.S. Bancorp Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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