Matisse Capital Reduces Position in U.S. Bancorp (NYSE:USB)

Matisse Capital lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,266 shares of the financial services provider’s stock after selling 300 shares during the quarter. Matisse Capital’s holdings in U.S. Bancorp were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of USB. Scotia Capital Inc. boosted its stake in shares of U.S. Bancorp by 6.7% during the 1st quarter. Scotia Capital Inc. now owns 9,572 shares of the financial services provider’s stock worth $529,000 after acquiring an additional 600 shares during the last quarter. Allred Capital Management LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $38,000. Sigma Planning Corp lifted its stake in shares of U.S. Bancorp by 3.6% during the 1st quarter. Sigma Planning Corp now owns 19,805 shares of the financial services provider’s stock valued at $1,095,000 after buying an additional 695 shares in the last quarter. Boston Family Office LLC lifted its stake in shares of U.S. Bancorp by 6.9% during the 1st quarter. Boston Family Office LLC now owns 7,314 shares of the financial services provider’s stock valued at $404,000 after buying an additional 472 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of U.S. Bancorp by 0.5% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 85,489 shares of the financial services provider’s stock valued at $4,728,000 after buying an additional 432 shares in the last quarter. Institutional investors and hedge funds own 73.80% of the company’s stock.

A number of research analysts recently weighed in on USB shares. Credit Suisse Group lifted their target price on shares of U.S. Bancorp from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, August 25th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $70.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, July 16th. Odeon Capital Group downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Finally, Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, July 16th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Buy” and an average price target of $62.37.

Shares of U.S. Bancorp stock traded down $2.30 during trading hours on Monday, reaching $54.71. The company’s stock had a trading volume of 219,709 shares, compared to its average volume of 6,523,638. The firm has a 50 day moving average price of $56.61 and a 200-day moving average price of $57.22. U.S. Bancorp has a one year low of $34.17 and a one year high of $62.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.76 and a quick ratio of 0.74. The stock has a market cap of $81.11 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.71 and a beta of 1.14.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 14th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.14 by $0.14. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a net margin of 29.83% and a return on equity of 15.18%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 5 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.36%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 29th. U.S. Bancorp’s dividend payout ratio is presently 54.90%.

U.S. Bancorp Company Profile

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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