Security National Trust Co. Sells 1,809 Shares of U.S. Bancorp (USB)

Security National Trust Co. lessened its holdings in U.S. Bancorp (NYSE:USB) by 45.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,195 shares of the financial services provider’s stock after selling 1,809 shares during the quarter. Security National Trust Co.’s holdings in U.S. Bancorp were worth $116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Field & Main Bank boosted its stake in U.S. Bancorp by 49.9% during the 2nd quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after acquiring an additional 1,000 shares during the last quarter. Auxier Asset Management boosted its stake in U.S. Bancorp by 8.6% during the 2nd quarter. Auxier Asset Management now owns 12,660 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 1,000 shares during the last quarter. Legacy Capital Partners Inc. boosted its stake in U.S. Bancorp by 7.2% during the 3rd quarter. Legacy Capital Partners Inc. now owns 14,841 shares of the financial services provider’s stock worth $784,000 after acquiring an additional 1,000 shares during the last quarter. Curbstone Financial Management Corp boosted its stake in U.S. Bancorp by 2.4% during the 3rd quarter. Curbstone Financial Management Corp now owns 42,950 shares of the financial services provider’s stock worth $2,268,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Homrich & Berg boosted its stake in U.S. Bancorp by 2.9% during the 2nd quarter. Homrich & Berg now owns 35,620 shares of the financial services provider’s stock worth $1,782,000 after acquiring an additional 1,018 shares during the last quarter. 74.42% of the stock is currently owned by institutional investors.

Shares of USB opened at $52.28 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.85. U.S. Bancorp has a twelve month low of $48.49 and a twelve month high of $58.50. The company has a market capitalization of $84.82 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.70 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 4.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a $0.37 dividend. The ex-dividend date was Thursday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.83%. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.

In other news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the sale, the insider now directly owns 121,137 shares in the company, valued at $6,154,970.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the completion of the sale, the insider now owns 124,086 shares in the company, valued at $6,565,390.26. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.

USB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday, October 12th. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. UBS Group set a $56.00 price objective on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Citigroup lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a research note on Thursday, October 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $59.36.

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

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