Nisa Investment Advisors LLC Cuts Stock Position in U.S. Bancorp $USB

Nisa Investment Advisors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,850 shares of the financial services provider’s stock after selling 87,845 shares during the quarter. Nisa Investment Advisors LLC’s holdings in U.S. Bancorp were worth $15,870,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of U.S. Bancorp in the second quarter valued at approximately $971,285,000. Davis Selected Advisers increased its stake in U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in U.S. Bancorp by 1,589.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after buying an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC boosted its position in U.S. Bancorp by 354.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock valued at $129,205,000 after buying an additional 2,227,103 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 1.4% in the second 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. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

USB has been the subject of a number of recent research reports. UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Barclays increased their price target on U.S. Bancorp from $56.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America boosted their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Finally, Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $56.30.

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp 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 sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $55.23 on Friday. The stock’s 50-day simple moving average is $51.07 and its 200-day simple moving average is $48.51. The firm has a market capitalization of $85.84 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.07. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $56.19. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.