Barclays PLC Cuts Stake in U.S. Bancorp $USB

Barclays PLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,306,218 shares of the financial services provider’s stock after selling 505,120 shares during the period. Barclays PLC’s holdings in U.S. Bancorp were worth $549,940,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Paulson Wealth Management Inc. grew its position in U.S. Bancorp by 2.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 8,780 shares of the financial services provider’s stock valued at $469,000 after purchasing an additional 173 shares during the last quarter. Gilbert & Cook Inc. grew its position in U.S. Bancorp by 1.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,590 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 184 shares during the last quarter. Flputnam Investment Management Co. grew its position in U.S. Bancorp by 1.4% during the 4th quarter. Flputnam Investment Management Co. now owns 13,721 shares of the financial services provider’s stock valued at $732,000 after purchasing an additional 186 shares during the last quarter. Genesis Private Wealth LLC grew its position in U.S. Bancorp by 2.3% during the 4th quarter. Genesis Private Wealth LLC now owns 8,348 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 187 shares during the last quarter. Finally, Richmond Investment Services LLC grew its position in U.S. Bancorp by 1.9% during the 4th quarter. Richmond Investment Services LLC now owns 10,107 shares of the financial services provider’s stock valued at $539,000 after purchasing an additional 192 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the transaction, the insider owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

USB opened at $58.90 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $91.37 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.06 and a beta of 0.97. The company’s 50-day simple moving average is $55.25 and its two-hundred day simple moving average is $54.53. U.S. Bancorp has a 52-week low of $42.55 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 EPS. As a group, analysts predict that U.S. Bancorp will post 5.07 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on USB shares. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research report on Thursday, April 16th. Wall Street Zen downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating on the stock in a research report on Thursday, April 30th. Finally, Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

About U.S. Bancorp

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.