U.S. Bancorp $USB Shares Sold by Associated Banc Corp

Associated Banc Corp reduced its position in shares of U.S. Bancorp (NYSE:USB) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,462 shares of the financial services provider’s stock after selling 9,392 shares during the period. Associated Banc Corp’s holdings in U.S. Bancorp were worth $6,899,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in U.S. Bancorp by 4.5% in the first quarter. Avantax Advisory Services Inc. now owns 147,750 shares of the financial services provider’s stock valued at $6,238,000 after purchasing an additional 6,345 shares during the last quarter. Cetera Investment Advisers raised its holdings in U.S. Bancorp by 10.2% during the first quarter. Cetera Investment Advisers now owns 645,487 shares of the financial services provider’s stock worth $27,252,000 after purchasing an additional 59,961 shares in the last quarter. Assetmark Inc. lifted its position in shares of U.S. Bancorp by 10.5% during the 1st quarter. Assetmark Inc. now owns 100,343 shares of the financial services provider’s stock worth $4,236,000 after buying an additional 9,497 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its holdings in shares of U.S. Bancorp by 53.8% in the 1st quarter. Mediolanum International Funds Ltd now owns 50,092 shares of the financial services provider’s stock valued at $2,117,000 after buying an additional 17,529 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. DA Davidson lifted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a research report on Friday, October 17th. Oppenheimer decreased their price target on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, TD Cowen increased their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.45.

U.S. Bancorp Stock Performance

NYSE:USB opened at $47.83 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm has a 50-day moving average price of $47.53 and a two-hundred day moving average price of $46.37. The company has a market capitalization of $74.35 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted 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 during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.3%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Transactions at U.S. Bancorp

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

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.