Chicago Partners Investment Group LLC Reduces Stake in U.S. Bancorp (USB)

Chicago Partners Investment Group LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 14.3% during the first quarter, HoldingsChannel.com reports. The firm owned 11,653 shares of the financial services provider’s stock after selling 1,952 shares during the period. Chicago Partners Investment Group LLC’s holdings in U.S. Bancorp were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in USB. FMR LLC increased its position in U.S. Bancorp by 12.9% in the 4th quarter. FMR LLC now owns 27,563,463 shares of the financial services provider’s stock valued at $1,259,651,000 after acquiring an additional 3,143,660 shares during the period. Northern Trust Corp increased its position in U.S. Bancorp by 2.9% in the 4th quarter. Northern Trust Corp now owns 20,129,830 shares of the financial services provider’s stock valued at $919,933,000 after acquiring an additional 561,261 shares during the period. Geode Capital Management LLC increased its position in U.S. Bancorp by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after acquiring an additional 1,285,265 shares during the period. Bank of New York Mellon Corp increased its position in U.S. Bancorp by 2.9% in the 4th quarter. Bank of New York Mellon Corp now owns 16,427,901 shares of the financial services provider’s stock valued at $750,754,000 after acquiring an additional 465,927 shares during the period. Finally, Norges Bank acquired a new stake in U.S. Bancorp in the 4th quarter valued at approximately $723,318,000. Institutional investors and hedge funds own 75.82% of the company’s stock.

USB has been the topic of several analyst reports. Jefferies Financial Group cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, January 8th. Zacks Investment Research restated a “hold” rating on shares of U.S. Bancorp in a research report on Monday, December 31st. Robert W. Baird cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research report on Monday, January 28th. Oppenheimer lifted their price target on U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Barclays lifted their price target on U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $58.30.

Shares of USB stock opened at $51.69 on Wednesday. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56. The firm has a market cap of $81.95 billion, a PE ratio of 12.61, a PEG ratio of 1.71 and a beta of 1.06. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.85 and a current ratio of 0.84.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.00. U.S. Bancorp had a return on equity of 15.53% and a net margin of 27.02%. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.62 billion. During the same period last year, the firm earned $0.96 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 4.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Thursday, March 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.10%.

In other news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $51.50, for a total transaction of $758,955.50. Following the completion of the sale, the insider now directly owns 61,737 shares of the company’s stock, valued at approximately $3,179,455.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman James B. Kelligrew sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $50.61, for a total value of $1,012,200.00. Following the sale, the insider now directly owns 49,495 shares of the company’s stock, valued at $2,504,941.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,301 shares of company stock worth $2,418,578. 0.24% of the stock is owned by insiders.

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About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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