U.S. Bancorp (NYSE:USB) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its stake in U.S. Bancorp (NYSE:USB) by 5.9% in the first quarter, HoldingsChannel.com reports. The fund owned 64,737 shares of the financial services provider’s stock after selling 4,067 shares during the quarter. Alaska Permanent Fund Corp’s holdings in U.S. Bancorp were worth $2,894,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. QRG Capital Management Inc. acquired a new position in U.S. Bancorp in the third quarter valued at $566,000. CI Investments Inc. increased its stake in U.S. Bancorp by 2.9% in the third quarter. CI Investments Inc. now owns 44,981 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 1,251 shares during the last quarter. Clearbridge Investments LLC increased its stake in U.S. Bancorp by 4.4% during the third quarter. Clearbridge Investments LLC now owns 4,978,278 shares of the financial services provider’s stock worth $164,582,000 after acquiring an additional 210,949 shares during the last quarter. Visionary Wealth Advisors increased its stake in U.S. Bancorp by 9.0% during the third quarter. Visionary Wealth Advisors now owns 109,496 shares of the financial services provider’s stock worth $3,620,000 after acquiring an additional 9,033 shares during the last quarter. Finally, True Wealth Design LLC acquired a new stake in U.S. Bancorp during the third quarter worth about $780,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.4 %

NYSE USB traded down $0.16 on Thursday, hitting $39.13. 1,868,739 shares of the stock traded hands, compared to its average volume of 8,288,682. The stock has a 50-day moving average of $40.49 and a 200 day moving average of $41.71. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The company has a market capitalization of $61.06 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.77 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. U.S. Bancorp’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts expect that U.S. Bancorp will post 3.85 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $45.00 price target (down from $52.00) on shares of U.S. Bancorp in a research note on Thursday, April 18th. UBS Group dropped their price target on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, DA Davidson dropped their price target on U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.02.

About U.S. Bancorp

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.