U.S. Bancorp $USB Shares Sold by Washington Trust Bank

Washington Trust Bank lowered its holdings in U.S. Bancorp (NYSE:USB) by 45.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,767 shares of the financial services provider’s stock after selling 76,256 shares during the quarter. Washington Trust Bank’s holdings in U.S. Bancorp were worth $4,387,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in USB. Bayforest Capital Ltd boosted its holdings in U.S. Bancorp by 10.8% during the third quarter. Bayforest Capital Ltd now owns 11,205 shares of the financial services provider’s stock worth $542,000 after buying an additional 1,090 shares in the last quarter. Cedar Mountain Advisors LLC boosted its stake in shares of U.S. Bancorp by 63.2% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 1,655 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 641 shares in the last quarter. Culbertson A N & Co. Inc. grew its holdings in shares of U.S. Bancorp by 6.8% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 128,606 shares of the financial services provider’s stock worth $6,216,000 after acquiring an additional 8,165 shares during the period. Forum Financial Management LP increased its stake in U.S. Bancorp by 6.9% in the 3rd quarter. Forum Financial Management LP now owns 27,508 shares of the financial services provider’s stock valued at $1,329,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Legacy Trust raised its holdings in U.S. Bancorp by 16.2% during the third quarter. Legacy Trust now owns 65,402 shares of the financial services provider’s stock worth $3,161,000 after purchasing an additional 9,142 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.5%

U.S. Bancorp stock opened at $55.23 on Friday. The company has a 50-day simple moving average of $51.07 and a 200-day simple moving average of $48.54. U.S. Bancorp has a one year low of $35.18 and a one year high of $56.19. The firm has a market capitalization of $85.84 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.96 and a beta of 1.07. 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 issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on USB shares. TD Cowen increased their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Wolfe Research cut U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a report on Wednesday. Evercore ISI set a $60.00 target price on U.S. Bancorp in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price objective on the stock in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.30.

Insider Buying and Selling at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were 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 approximately $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

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.