Commonwealth Equity Services LLC Has $33.61 Million Stock Holdings in U.S. Bancorp $USB

Commonwealth Equity Services LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,515 shares of the financial services provider’s stock after selling 18,986 shares during the quarter. Commonwealth Equity Services LLC’s holdings in U.S. Bancorp were worth $33,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in USB. Chemung Canal Trust Co. lifted its stake in U.S. Bancorp by 205.5% in the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock valued at $3,302,000 after buying an additional 45,963 shares during the period. Andra AP fonden increased its stake in shares of U.S. Bancorp by 175.6% in the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Synergy Asset Management LLC lifted its position in shares of U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after acquiring an additional 59,981 shares during the period. Cardinal Capital Management Inc. boosted its stake in U.S. Bancorp by 698.5% during the third quarter. Cardinal Capital Management Inc. now owns 243,101 shares of the financial services provider’s stock worth $11,749,000 after acquiring an additional 212,655 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in U.S. Bancorp by 6.6% during the third quarter. DAVENPORT & Co LLC now owns 214,901 shares of the financial services provider’s stock worth $10,386,000 after acquiring an additional 13,280 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on USB. DA Davidson upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. Keefe, Bruyette & Woods boosted their target price on U.S. Bancorp from $53.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. TD Cowen increased their price target on U.S. Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Finally, HSBC reaffirmed a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.30.

U.S. Bancorp Stock Down 2.1%

Shares of NYSE:USB opened at $54.90 on Thursday. The business’s 50 day moving average is $50.73 and its 200 day moving average is $48.39. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $56.19. The stock has a market cap of $85.34 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.98 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion for 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 business’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s payout ratio is 47.60%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction dated 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 in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.