Douglass Winthrop Advisors LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 17.2% during the 3rd quarter, Holdings Channel reports. The firm owned 16,150 shares of the financial services provider’s stock after selling 3,350 shares during the period. Douglass Winthrop Advisors LLC’s holdings in U.S. Bancorp were worth $853,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of U.S. Bancorp by 24.5% in the 2nd quarter. Parallel Advisors LLC now owns 12,749 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 2,505 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of U.S. Bancorp by 18.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 198,873 shares of the financial services provider’s stock worth $9,942,000 after acquiring an additional 31,060 shares during the period. BB&T Securities LLC lifted its stake in shares of U.S. Bancorp by 68.0% in the 2nd quarter. BB&T Securities LLC now owns 452,454 shares of the financial services provider’s stock worth $22,631,000 after acquiring an additional 183,198 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $567,000. Finally, Ariel Investments LLC lifted its stake in shares of U.S. Bancorp by 1.4% in the 2nd quarter. Ariel Investments LLC now owns 382,407 shares of the financial services provider’s stock worth $19,128,000 after acquiring an additional 5,103 shares during the period. 74.29% of the stock is currently owned by institutional investors.
Shares of NYSE USB opened at $50.79 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.83. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50. The stock has a market capitalization of $86.03 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.73 and a beta of 0.98.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.01. U.S. Bancorp had a net margin of 26.96% and a return on equity of 14.66%. The firm had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same quarter last year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.37 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, September 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.91%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.
Several analysts have recently commented on the stock. ValuEngine cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $62.00 in a research note on Wednesday. Finally, Wedbush restated a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.72.
In related news, Vice Chairman John R. Elmore sold 58,924 shares of the firm’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $51.71, for a total value of $3,046,960.04. Following the completion of the sale, the insider now owns 98,371 shares in the company, valued at $5,086,764.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.43% of the stock is owned by company insiders.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through 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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