Stewart & Patten Co. LLC Has $226,000 Stock Position in U.S. Bancorp (NYSE:USB)

Stewart & Patten Co. LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 21.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,050 shares of the financial services provider’s stock after selling 1,415 shares during the quarter. Stewart & Patten Co. LLC’s holdings in U.S. Bancorp were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CGC Financial Services LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $25,000. BKM Wealth Management LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $26,000. Planned Solutions Inc. acquired a new position in U.S. Bancorp during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the 1st quarter valued at $30,000. Finally, Naples Money Management LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at $30,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on USB shares. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of U.S. Bancorp in a report on Thursday, May 16th. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Sixteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $46.02.

U.S. Bancorp Trading Down 1.2 %

U.S. Bancorp stock traded down $0.46 during trading hours on Monday, reaching $39.24. 7,988,447 shares of the company’s stock traded hands, compared to its average volume of 8,405,683. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $45.85. The firm has a market capitalization of $61.23 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 3.82 and a beta of 1.04. The firm’s 50 day moving average is $40.35 and its 200-day moving average is $41.70.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company posted $1.16 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post 3.84 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.99%. U.S. Bancorp’s payout ratio is presently 64.90%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.