Rockefeller Capital Management L.P. Reduces Stake in U.S. Bancorp (USB)

Rockefeller Capital Management L.P. cut its stake in U.S. Bancorp (NYSE:USB) by 8.1% during the third quarter, Holdings Channel reports. The fund owned 22,058 shares of the financial services provider’s stock after selling 1,938 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in U.S. Bancorp were worth $1,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Horan Capital Management bought a new stake in U.S. Bancorp in the second quarter worth $109,000. Integrated Investment Consultants LLC bought a new stake in U.S. Bancorp in the second quarter worth $135,000. Field & Main Bank boosted its holdings in U.S. Bancorp by 49.9% in the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 1,000 shares in the last quarter. NEXT Financial Group Inc bought a new stake in U.S. Bancorp in the third quarter worth $181,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in U.S. Bancorp in the third quarter worth $185,000. 74.42% of the stock is currently owned by institutional investors and hedge funds.

USB stock opened at $52.89 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.85 and a quick ratio of 0.84. U.S. Bancorp has a 52-week low of $48.49 and a 52-week high of $58.50. The stock has a market cap of $84.82 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.70 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share (EPS) 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 company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.80%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio is 43.27%.

In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the sale, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $6,565,390.26. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.

USB has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. ValuEngine upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, September 18th. Macquarie upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $62.00 in a report on Wednesday, October 10th. Finally, UBS Group upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Three equities research 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. The company presently has an average rating of “Hold” and a consensus target price 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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