Jones Financial Companies Lllp cut its stake in U.S. Bancorp (NYSE:USB) by 17.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,589 shares of the financial services provider’s stock after selling 21,941 shares during the period. Jones Financial Companies Lllp’s holdings in U.S. Bancorp were worth $5,088,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC boosted its stake 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 worth $1,259,651,000 after purchasing an additional 3,143,660 shares during the period. Northern Trust Corp boosted its stake 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 worth $919,933,000 after purchasing an additional 561,261 shares during the period. Geode Capital Management LLC lifted its position in U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after buying an additional 1,285,265 shares in the last quarter. Bank of New York Mellon Corp lifted its position in U.S. Bancorp by 2.9% during the 4th quarter. Bank of New York Mellon Corp now owns 16,427,901 shares of the financial services provider’s stock worth $750,754,000 after buying an additional 465,927 shares in the last quarter. Finally, Norges Bank bought a new stake in U.S. Bancorp during the 4th quarter worth about $723,318,000. 75.98% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on USB. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research report on Monday, January 28th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Finally, Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $58.33.
Shares of USB stock opened at $51.05 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $80.89 billion, a PE ratio of 12.45, a PEG ratio of 1.69 and a beta of 1.10. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $55.56.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.00. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.62 billion. U.S. Bancorp had a net margin of 27.02% and a return on equity of 15.53%. U.S. Bancorp’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 4.29 earnings per share for the current year.
In other U.S. Bancorp news, Vice Chairman James B. Kelligrew sold 20,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $50.61, for a total value of $1,012,200.00. Following the transaction, the insider now directly owns 49,495 shares of the company’s stock, valued at approximately $2,504,941.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Leslie V. Godridge sold 12,564 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $51.53, for a total transaction of $647,422.92. Following the completion of the transaction, the insider now directly owns 39,330 shares in the company, valued at $2,026,674.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,233 shares of company stock worth $1,907,734. 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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