Northeast Investment Management Sells 1,038 Shares of U.S. Bancorp (NYSE:USB)

Northeast Investment Management lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,129 shares of the financial services provider’s stock after selling 1,038 shares during the period. Northeast Investment Management’s holdings in U.S. Bancorp were worth $720,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC raised its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB traded up $0.42 during midday trading on Wednesday, hitting $46.15. The company’s stock had a trading volume of 6,213,534 shares, compared to its average volume of 8,354,310. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a one year low of $30.47 and a one year high of $46.38. The stock has a market capitalization of $72.02 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The company’s fifty day simple moving average is $42.38 and its two-hundred day simple moving average is $41.79.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.25%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. DA Davidson upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Company 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.