Tradition Capital Management LLC Acquires 5,450 Shares of U.S. Bancorp (USB)

Tradition Capital Management LLC grew its stake in U.S. Bancorp (NYSE:USB) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,991 shares of the financial services provider’s stock after buying an additional 5,450 shares during the period. Tradition Capital Management LLC’s holdings in U.S. Bancorp were worth $2,421,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in U.S. Bancorp by 15.0% in the second quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock worth $793,710,000 after acquiring an additional 2,071,326 shares in the last quarter. Morgan Stanley lifted its stake in U.S. Bancorp by 32.7% in the third quarter. Morgan Stanley now owns 5,506,411 shares of the financial services provider’s stock valued at $290,793,000 after buying an additional 1,358,026 shares during the period. FIL Ltd raised its position in shares of U.S. Bancorp by 14.2% during the third quarter. FIL Ltd now owns 7,543,687 shares of the financial services provider’s stock worth $398,382,000 after purchasing an additional 937,634 shares during the period. Calamos Advisors LLC grew its stake in U.S. Bancorp by 256.7% in the fourth quarter. Calamos Advisors LLC now owns 1,219,527 shares of the financial services provider’s stock valued at $55,732,000 after purchasing an additional 877,672 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of U.S. Bancorp by 3.5% during the 3rd quarter. Wells Fargo & Company MN now owns 22,390,287 shares of the financial services provider’s stock worth $1,182,431,000 after acquiring an additional 750,796 shares during the period. Hedge funds and other institutional investors own 75.77% of the company’s stock.

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In other news, Director David B. Omaley sold 10,902 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $53.66, for a total transaction of $585,001.32. Following the sale, the director now directly owns 212,789 shares in the company, valued at approximately $11,418,257.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Leslie V. Godridge sold 14,737 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $51.50, for a total transaction of $758,955.50. Following the completion of the sale, the insider now directly owns 61,737 shares in the company, valued at $3,179,455.50. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on USB. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Monday, November 19th. Standpoint Research cut U.S. Bancorp from a “buy” rating to a “hold” rating and lifted their price objective for the company from $54.16 to $63.00 in a research report on Monday, November 26th. They noted that the move was a valuation call. Deutsche Bank lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. CIBC raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Finally, Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $58.00.

NYSE:USB traded up $0.45 during mid-day trading on Tuesday, hitting $51.00. 995,437 shares of the stock were exchanged, compared to its average volume of 7,290,981. The stock has a market cap of $81.74 billion, a P/E ratio of 12.44, a PEG ratio of 1.55 and a beta of 1.08. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $56.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 15.64% and a net margin of 27.53%. The company had revenue of $5.83 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 4.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were issued a $0.37 dividend. The ex-dividend date was Friday, December 28th. This represents a $1.48 dividend on an annualized basis and a yield of 2.90%. U.S. Bancorp’s payout ratio is currently 36.10%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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