Cacti Asset Management LLC Reduces Stock Holdings in U.S. Bancorp $USB

Cacti Asset Management LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 67.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,145 shares of the financial services provider’s stock after selling 43,552 shares during the period. Cacti Asset Management LLC’s holdings in U.S. Bancorp were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in 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 purchasing an additional 36,863 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of U.S. Bancorp by 10.3% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 77,258 shares of the financial services provider’s stock valued at $3,262,000 after acquiring an additional 7,188 shares during the period. Horizon Investments LLC raised its stake in U.S. Bancorp by 4.0% in the 1st quarter. Horizon Investments LLC now owns 30,125 shares of the financial services provider’s stock worth $1,272,000 after acquiring an additional 1,164 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its position in U.S. Bancorp by 6.7% during the 1st quarter. Alliance Wealth Advisors LLC UT now owns 8,659 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 543 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its stake in U.S. Bancorp by 22.1% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 52,090 shares of the financial services provider’s stock valued at $2,199,000 after purchasing an additional 9,417 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

USB stock opened at $53.41 on Monday. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market cap of $83.02 billion, a P/E ratio of 12.22, a PEG ratio of 1.01 and a beta of 1.10. The company’s 50-day simple moving average is $48.05 and its 200-day simple moving average is $47.07.

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

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insiders Place Their Bets

In other news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated 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 sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction dated 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 sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on USB shares. Bank of America raised their price objective on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. 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. TD Cowen upped their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 price target on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $54.16.

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.