U.S. Bancorp (NYSE:USB) Shares Sold by Asset Dedication LLC

Asset Dedication LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 9,311 shares of the financial services provider’s stock after selling 499 shares during the quarter. Asset Dedication LLC’s holdings in U.S. Bancorp were worth $370,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the last quarter. LRI Investments LLC bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $31,000. Finally, Crewe Advisors LLC bought a new position in shares of U.S. Bancorp in the 1st quarter worth about $39,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on USB. DA Davidson raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. UBS Group raised their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Jefferies Financial Group cut their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.23.

U.S. Bancorp Stock Down 2.3 %

USB stock opened at $44.49 on Monday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The company has a market capitalization of $69.42 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. The firm’s 50-day moving average is $43.41 and its two-hundred day moving average is $42.08. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the previous year, the firm earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 3.89 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.41%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.