Sowell Financial Services LLC Lowers Stake in U.S. Bancorp (NYSE:USB)

Sowell Financial Services LLC cut its holdings in shares of U.S. Bancorp (NYSE:USBFree Report) by 51.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,933 shares of the financial services provider’s stock after selling 41,944 shares during the quarter. Sowell Financial Services LLC’s holdings in U.S. Bancorp were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. BlackRock Inc. boosted its stake in U.S. Bancorp by 6.0% during the second quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock worth $3,657,692,000 after buying an additional 6,307,085 shares during the period. Mufg Bank LTD. lifted its holdings in shares of U.S. Bancorp by 54.1% in the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after acquiring an additional 24,000,000 shares during the last quarter. State Street Corp boosted its position in shares of U.S. Bancorp by 4.0% during the 2nd quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock worth $2,026,405,000 after purchasing an additional 2,300,777 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 7.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,510,943 shares of the financial services provider’s stock valued at $975,042,000 after purchasing an additional 2,038,950 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 1.8 %

NYSE USB opened at $40.10 on Tuesday. U.S. Bancorp has a one year low of $27.27 and a one year high of $49.80. The firm has a market cap of $62.44 billion, a PE ratio of 12.23, a P/E/G ratio of 2.07 and a beta of 1.04. The firm’s fifty day moving average is $42.02 and its two-hundred day moving average is $37.73. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USBGet Free Report) last announced its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was up 6.2% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.94 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were issued a $0.49 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.89%. U.S. Bancorp’s payout ratio is presently 59.76%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Shailesh M. Kotwal sold 2,954 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the transaction, the insider now directly owns 119,768 shares in the company, valued at $4,738,022.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the transaction, the insider now owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shailesh M. Kotwal sold 2,954 shares of U.S. Bancorp stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total value of $116,860.24. Following the completion of the sale, the insider now directly owns 119,768 shares of the company’s stock, valued at approximately $4,738,022.08. The disclosure for this sale can be found here. Insiders have sold a total of 66,439 shares of company stock worth $2,865,224 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Morgan Stanley lifted their target price on U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 30th. Jefferies Financial Group reduced their price target on shares of U.S. Bancorp from $36.00 to $31.00 in a research report on Tuesday, October 10th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, Bank of America dropped their price target on shares of U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $45.35.

Get Our Latest Stock Report on U.S. Bancorp

U.S. Bancorp Profile

(Free Report)

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

Featured Articles

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USBFree Report).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.