NBT Bank N A NY Reduces Holdings in U.S. Bancorp (NYSE:USB)

NBT Bank N A NY reduced its position in U.S. Bancorp (NYSE:USB) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,733 shares of the financial services provider’s stock after selling 5,898 shares during the period. NBT Bank N A NY’s holdings in U.S. Bancorp were worth $2,013,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after buying an additional 502,776 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock worth $1,459,363,000 after acquiring an additional 2,598,163 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp in the 4th quarter worth about $827,370,000. Bank of New York Mellon Corp raised its stake in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of U.S. Bancorp by 3.0% during the first quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after purchasing an additional 265,734 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB stock traded up $0.70 on Friday, reaching $47.23. The company’s stock had a trading volume of 14,262,639 shares, compared to its average volume of 8,381,796. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $73.70 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The firm has a fifty day moving average of $42.81 and a two-hundred day moving average of $41.90.

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

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently weighed in on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Evercore ISI raised their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lowered 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, June 27th. Finally, Royal Bank of Canada increased their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.23.

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.