Fifth Third Bancorp Sells 20,638 Shares of U.S. Bancorp $USB

Fifth Third Bancorp lowered its position in shares of U.S. Bancorp (NYSE:USB) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 766,841 shares of the financial services provider’s stock after selling 20,638 shares during the period. Fifth Third Bancorp’s holdings in U.S. Bancorp were worth $37,061,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in shares of U.S. Bancorp in the second quarter worth about $25,000. Guerra Advisors Inc bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the third quarter valued at approximately $26,000. Hillsdale Investment Management Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $27,000. Finally, Pineridge Advisors LLC raised its holdings in shares of U.S. Bancorp by 446.2% during the second quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were 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 directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Down 0.3%

Shares of NYSE:USB opened at $57.66 on Tuesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a fifty day simple moving average of $55.55 and a two-hundred day simple moving average of $50.46. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $61.19. The stock 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.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, research analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analysts Set New Price Targets

A number of research analysts have issued reports on USB shares. Wolfe Research downgraded shares of U.S. Bancorp from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 7th. Argus lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price target on shares of U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 21st. TD Cowen raised their price objective on shares of U.S. Bancorp from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, HSBC reiterated a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.79.

U.S. Bancorp Company 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.