Opus Capital Group LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 11.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,340 shares of the financial services provider’s stock after selling 1,517 shares during the period. Opus Capital Group LLC’s holdings in U.S. Bancorp were worth $627,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,779,557 shares of the financial services provider’s stock valued at $828,350,000 after acquiring an additional 448,900 shares during the period. Norges Bank purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at approximately $673,915,000. Bank of New York Mellon Corp lifted its stake in shares of U.S. Bancorp by 10.0% during the 4th quarter. Bank of New York Mellon Corp now owns 14,084,493 shares of the financial services provider’s stock valued at $656,195,000 after buying an additional 1,279,974 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of U.S. Bancorp by 2.6% during the 4th quarter. Fiera Capital Corp now owns 10,894,529 shares of the financial services provider’s stock valued at $507,576,000 after buying an additional 280,135 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of U.S. Bancorp by 1.6% during the 4th quarter. US Bancorp DE now owns 10,717,980 shares of the financial services provider’s stock valued at $499,351,000 after buying an additional 164,313 shares in the last quarter. 71.73% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Terrance R. Dolan sold 19,149 shares of the firm’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $59.11, for a total value of $1,131,897.39. Following the completion of the sale, the chief financial officer now directly owns 138,374 shares of the company’s stock, valued at approximately $8,179,287.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Cecere sold 184,187 shares of the firm’s stock in a transaction dated Thursday, April 22nd. The stock was sold at an average price of $56.48, for a total transaction of $10,402,881.76. Following the completion of the sale, the chief executive officer now directly owns 1,037,110 shares of the company’s stock, valued at $58,575,972.80. The disclosure for this sale can be found here. In the last three months, insiders sold 251,779 shares of company stock worth $14,319,060. Insiders own 0.23% of the company’s stock.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 14th. The financial services provider reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.49. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 38.71%.
A number of brokerages recently commented on USB. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of U.S. Bancorp in a research note on Thursday, March 25th. Odeon Capital Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 24th. Jefferies Financial Group increased their target price on shares of U.S. Bancorp from $55.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, April 9th. Credit Suisse Group increased their target price on shares of U.S. Bancorp from $56.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, April 22nd. Finally, Citigroup increased their target price on shares of U.S. Bancorp from $63.00 to $65.00 in a research note on Wednesday, April 21st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Buy” and an average target price of $56.15.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
Featured Article: S&P/TSX Index
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.