National Bank of Canada FI Decreases Stock Holdings in U.S. Bancorp $USB

National Bank of Canada FI lessened its stake in U.S. Bancorp (NYSE:USB) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,710,829 shares of the financial services provider’s stock after selling 92,132 shares during the quarter. National Bank of Canada FI’s holdings in U.S. Bancorp were worth $77,415,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after acquiring an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after purchasing an additional 456,890 shares during the last quarter. Norges Bank acquired a new position in shares of U.S. Bancorp during the second quarter worth $971,285,000. Amundi lifted its holdings in shares of U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock valued at $773,268,000 after purchasing an additional 422,050 shares during the last quarter. Finally, Davis Selected Advisers boosted its position in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after purchasing an additional 4,442,623 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 NYSE USB opened at $53.41 on Monday. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The business’s 50 day moving average price is $48.05 and its 200 day moving average price is $47.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $83.02 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.01 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.9%. U.S. Bancorp’s payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. TD Cowen upped their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Cowen reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.16.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by corporate 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.