U.S. Bancorp (NYSE:USB) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its stake in U.S. Bancorp (NYSE:USB) by 23.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,271 shares of the financial services provider’s stock after selling 1,869 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in U.S. Bancorp were worth $249,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Focus Financial Network Inc. ADV acquired a new position in shares of U.S. Bancorp in the 4th quarter worth approximately $5,440,000. Morningstar Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 760.8% in the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after acquiring an additional 74,094 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of U.S. Bancorp by 2,056.5% in the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after acquiring an additional 208,528 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of U.S. Bancorp by 2.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock worth $137,988,000 after acquiring an additional 76,053 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $20,188,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their target price on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley upped their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Trading Up 1.7 %

NYSE USB opened at $45.26 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s fifty day moving average price is $43.53 and its 200 day moving average price is $42.11. The company has a market capitalization of $70.63 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.