U.S. Bancorp $USB Stock Position Trimmed by 17 Capital Partners LLC

17 Capital Partners LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 11.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,135 shares of the financial services provider’s stock after selling 3,513 shares during the period. 17 Capital Partners LLC’s holdings in U.S. Bancorp were worth $1,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. Davis Selected Advisers grew its holdings in U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after buying an additional 4,442,623 shares in the last quarter. Nuveen LLC acquired a new position in U.S. Bancorp during the 1st quarter worth $138,183,000. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 1.7% during the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock valued at $5,962,742,000 after purchasing an additional 2,393,383 shares during the period. American Century Companies Inc. raised its stake in shares of U.S. Bancorp by 17.4% during the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock valued at $425,163,000 after purchasing an additional 1,493,318 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after purchasing an additional 1,311,746 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 1.9%

USB opened at $46.80 on Thursday. The company has a market capitalization of $72.74 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The business has a 50-day moving average of $47.65 and a 200-day moving average of $46.21. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is presently 47.60%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Morgan Stanley restated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. TD Cowen upped their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Finally, Oppenheimer lowered their target price on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.45.

U.S. Bancorp Company 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.