Grandfield & Dodd LLC Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Grandfield & Dodd LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 26.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 106,810 shares of the financial services provider’s stock after selling 39,297 shares during the period. Grandfield & Dodd LLC’s holdings in U.S. Bancorp were worth $4,774,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. Toroso Investments LLC grew its stake in U.S. Bancorp by 19.8% during the third quarter. Toroso Investments LLC now owns 42,289 shares of the financial services provider’s stock valued at $1,398,000 after acquiring an additional 7,002 shares in the last quarter. Creative Planning grew its stake in shares of U.S. Bancorp by 22.9% in the 3rd quarter. Creative Planning now owns 837,191 shares of the financial services provider’s stock worth $27,678,000 after buying an additional 156,010 shares in the last quarter. Comerica Bank grew its stake in shares of U.S. Bancorp by 8,557.6% in the 3rd quarter. Comerica Bank now owns 537,028 shares of the financial services provider’s stock worth $17,754,000 after buying an additional 530,825 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of U.S. Bancorp in the 3rd quarter worth $1,058,000. Finally, Public Sector Pension Investment Board grew its stake in shares of U.S. Bancorp by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 357,514 shares of the financial services provider’s stock worth $11,819,000 after buying an additional 34,003 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 2.8 %

USB traded up $1.13 on Thursday, reaching $41.93. 9,220,943 shares of the company traded hands, compared to its average volume of 8,345,445. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.85. The firm has a fifty day simple moving average of $40.15 and a two-hundred day simple moving average of $41.48. The company has a market cap of $65.43 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 3.81 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts expect that U.S. Bancorp will post 3.83 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.49 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.67%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. UBS Group dropped their price objective on shares of 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. Wells Fargo & Company dropped their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Morgan Stanley restated an “equal weight” rating and issued a $45.00 target price on shares of U.S. Bancorp in a report on Friday, June 21st. Finally, StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.84.

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.