KCM Investment Advisors LLC Sells 3,669 Shares of U.S. Bancorp (NYSE:USB)

KCM Investment Advisors LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,927 shares of the financial services provider’s stock after selling 3,669 shares during the quarter. KCM Investment Advisors LLC’s holdings in U.S. Bancorp were worth $4,245,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of USB. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp during the first quarter worth about $30,000. LRI Investments LLC acquired a new position in U.S. Bancorp during the first quarter worth $31,000. Eagle Bay Advisors LLC lifted its stake in 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 acquiring an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $39,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 1.5 %

USB traded up $0.70 during midday trading on Friday, hitting $47.23. 11,694,579 shares of the company were exchanged, compared to its average volume of 8,381,796. The firm’s 50 day moving average price is $42.66 and its 200-day moving average price is $41.85. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The firm has a market capitalization of $73.70 billion, a P/E ratio of 15.64, a P/E/G ratio of 4.20 and a beta of 1.04. 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 (NYSE:USB) last posted its quarterly earnings data 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 company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. The Goldman Sachs Group boosted their price target on U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. DA Davidson upped their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Evercore ISI lifted their price target on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.23.

About U.S. Bancorp

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.