Oppenheimer & Co. Inc. Sells 59,833 Shares of U.S. Bancorp (NYSE:USB)

Oppenheimer & Co. Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 33.0% in the first quarter, Holdings Channel.com reports. The firm owned 121,566 shares of the financial services provider’s stock after selling 59,833 shares during the period. Oppenheimer & Co. Inc.’s holdings in U.S. Bancorp were worth $5,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new position in U.S. Bancorp during the first quarter worth about $202,000. SG Americas Securities LLC boosted its position in shares of U.S. Bancorp by 711.4% in the first quarter. SG Americas Securities LLC now owns 852,744 shares of the financial services provider’s stock valued at $38,118,000 after acquiring an additional 747,654 shares during the period. AIA Group Ltd bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $374,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of U.S. Bancorp by 5.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 339,761 shares of the financial services provider’s stock valued at $15,187,000 after acquiring an additional 16,137 shares during the period. Finally, Empirical Finance LLC boosted its position in shares of U.S. Bancorp by 4.0% in the first quarter. Empirical Finance LLC now owns 50,726 shares of the financial services provider’s stock valued at $2,267,000 after acquiring an additional 1,949 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.4 %

NYSE:USB opened at $42.10 on Friday. The company has a fifty day moving average of $40.16 and a 200 day moving average of $41.45. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.85. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $65.70 billion, a P/E ratio of 13.94, a P/E/G ratio of 4.09 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same period in the prior year, the business posted $1.16 EPS. The firm’s revenue was down 6.4% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 3.83 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.49 per share. The ex-dividend date is Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.66%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their price objective on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Evercore ISI raised their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. DA Davidson lowered their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Finally, Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.84.

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.