City Center Advisors LLC reduced its holdings in U.S. Bancorp (NYSE:USB – Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,132 shares of the financial services provider’s stock after selling 676 shares during the quarter. City Center Advisors LLC’s holdings in U.S. Bancorp were worth $580,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Natixis Advisors LLC raised its holdings in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $1,018,000. M&T Bank Corp lifted its position in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 45,560 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in U.S. Bancorp by 544.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 11,737 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.
U.S. Bancorp Stock Performance
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.
U.S. Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. U.S. Bancorp’s payout ratio is presently 61.16%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on USB. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Barclays upped their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $54.07.
Read Our Latest Analysis on USB
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.
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