U.S. Bancorp (NYSE:USB) Stock Holdings Reduced by Abbrea Capital LLC

Abbrea Capital LLC cut its position in shares of U.S. Bancorp (NYSE:USB) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,033 shares of the financial services provider’s stock after selling 1,872 shares during the period. Abbrea Capital LLC’s holdings in U.S. Bancorp were worth $403,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in USB. Norges Bank acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $827,370,000. Confluence Investment Management LLC bought a new stake in U.S. Bancorp in the first quarter worth $92,192,000. National Bank of Canada FI boosted its holdings in U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after buying an additional 1,097,179 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in U.S. Bancorp by 20.0% during the fourth quarter. Clearbridge Investments LLC now owns 5,974,323 shares of the financial services provider’s stock valued at $258,569,000 after buying an additional 996,045 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USB has been the topic of a number of analyst reports. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. DA Davidson increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Stock Up 1.8 %

Shares of USB opened at $44.62 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $43.93 and a two-hundred day moving average price of $42.19. The stock has a market cap of $69.63 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

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.