Aberdeen Group plc Decreases Stake in U.S. Bancorp $USB

Aberdeen Group plc cut its stake in shares of U.S. Bancorp (NYSE:USB) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,167,779 shares of the financial services provider’s stock after selling 14,556 shares during the quarter. Aberdeen Group plc owned about 0.08% of U.S. Bancorp worth $57,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth approximately $971,285,000. Davis Selected Advisers boosted its position in shares of 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. Arrowstreet Capital Limited Partnership increased its stake in shares of U.S. Bancorp by 1,589.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock worth $157,119,000 after purchasing an additional 3,266,724 shares in the last quarter. AQR Capital Management LLC raised its position in shares of U.S. Bancorp by 354.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after purchasing an additional 2,227,103 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after buying an additional 2,038,996 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $57.66 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $61.19. The company has a market capitalization of $89.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.03 and a beta of 1.06. The business has a 50-day moving average of $55.43 and a 200-day moving average of $50.37.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. On average, equities analysts anticipate 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 was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s payout ratio is presently 45.02%.

Analyst Ratings Changes

A number of research firms have recently weighed in on USB. Royal Bank Of Canada boosted their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. TD Cowen boosted their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Wolfe Research cut shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Barclays lifted their price target on shares of U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, UBS Group reissued a “neutral” rating and set a $60.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.79.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the transaction, the insider owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.