U.S. Bancorp $USB Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in U.S. Bancorp (NYSE:USB) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,037,496 shares of the financial services provider’s stock after selling 71,645 shares during the period. Fifth Third Bancorp’s holdings in U.S. Bancorp were worth $59,926,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Maryland State Retirement & Pension System raised its stake in shares of U.S. Bancorp by 13.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 94,631 shares of the financial services provider’s stock valued at $5,466,000 after acquiring an additional 10,942 shares in the last quarter. International Private Wealth Advisors LLC lifted its holdings in U.S. Bancorp by 18.8% in the 3rd quarter. International Private Wealth Advisors LLC now owns 7,170 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 1,137 shares during the last quarter. DSG Capital Advisors LLC lifted its holdings in U.S. Bancorp by 7.5% in the 3rd quarter. DSG Capital Advisors LLC now owns 28,539 shares of the financial services provider’s stock worth $1,648,000 after purchasing an additional 1,994 shares during the last quarter. Silver Grove Financial Group Inc. lifted its holdings in U.S. Bancorp by 13.9% in the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,771 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 216 shares during the last quarter. Finally, Davis Investment Partners LLC boosted its position in U.S. Bancorp by 12.7% during the third quarter. Davis Investment Partners LLC now owns 16,886 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 1,901 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on USB shares. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Morgan Stanley set a $68.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $64.00 price objective (down from $71.00) on shares of U.S. Bancorp in a research note on Thursday, October 15th. HSBC upped their price objective on shares of U.S. Bancorp from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Trading Down 0.3%

Shares of USB stock opened at $60.53 on Friday. The firm has a market capitalization of $94.32 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The firm’s fifty day simple moving average is $59.55 and its 200 day simple moving average is $58.28. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.54 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.