Pensionfund Sabic decreased its position in U.S. Bancorp (NYSE:USB) by 14.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 42,400 shares of the financial services provider’s stock after selling 7,000 shares during the period. Pensionfund Sabic’s holdings in U.S. Bancorp were worth $2,043,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of USB. Executive Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at $27,000. WESPAC Advisors SoCal LLC bought a new position in U.S. Bancorp in the 4th quarter worth $27,000. Gantzert Investment Co. LLC ADV bought a new position in U.S. Bancorp in the 4th quarter worth $32,000. ERTS Wealth Advisors LLC bought a new position in U.S. Bancorp in the 4th quarter worth $36,000. Finally, Centerpoint Advisors LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth about $45,000. 75.82% of the stock is owned by hedge funds and other institutional investors.
In related news, Vice Chairman James B. Kelligrew sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $50.61, for a total transaction of $1,012,200.00. Following the completion of the sale, the insider now directly owns 49,495 shares of the company’s stock, valued at $2,504,941.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $51.53, for a total transaction of $647,422.92. Following the sale, the insider now directly owns 39,330 shares of the company’s stock, valued at $2,026,674.90. The disclosure for this sale can be found here. Insiders have sold 47,301 shares of company stock worth $2,418,578 over the last quarter. 0.24% of the stock is owned by company insiders.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.00. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same period in the prior year, the business earned $0.96 earnings per share. U.S. Bancorp’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 4.28 EPS for the current fiscal year.
The business also recently announced 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.86%. U.S. Bancorp’s payout ratio is 36.10%.
Several research firms have recently issued reports on USB. Zacks Investment Research restated a “hold” rating on shares of U.S. Bancorp in a report on Monday, December 31st. Jefferies Financial Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Barclays upped their target price on shares of U.S. Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, January 2nd. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, January 28th. Finally, Oppenheimer upped their target price on shares of U.S. Bancorp from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $58.18.
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U.S. Bancorp Profile
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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