Commerce Bank Reduces Position in U.S. Bancorp (NYSE:USB)

Commerce Bank lowered its position in shares of U.S. Bancorp (NYSE:USB) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 411,646 shares of the financial services provider’s stock after selling 30,979 shares during the quarter. Commerce Bank’s holdings in U.S. Bancorp were worth $19,689,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of USB. CANADA LIFE ASSURANCE Co lifted its position in U.S. Bancorp by 7.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,640,622 shares of the financial services provider’s stock valued at $78,477,000 after acquiring an additional 111,373 shares during the last quarter. Cravens & Co Advisors LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter worth about $1,206,000. Marshall Wace LLP increased its position in U.S. Bancorp by 414.1% in the 4th quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock valued at $276,915,000 after acquiring an additional 4,663,518 shares during the period. NewEdge Advisors LLC raised its stake in U.S. Bancorp by 0.6% during the 4th quarter. NewEdge Advisors LLC now owns 96,180 shares of the financial services provider’s stock valued at $4,600,000 after acquiring an additional 616 shares during the last quarter. Finally, Jump Financial LLC lifted its position in U.S. Bancorp by 399.1% during the 4th quarter. Jump Financial LLC now owns 40,940 shares of the financial services provider’s stock worth $1,958,000 after acquiring an additional 32,738 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. The trade was a 7.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 219,812 shares of company stock valued at $10,385,665. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on U.S. Bancorp from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup reduced their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, March 24th. DA Davidson cut their price target on shares of U.S. Bancorp from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.66.

U.S. Bancorp Stock Up 1.0 %

Shares of NYSE USB opened at $38.21 on Friday. The firm’s 50-day moving average is $42.55 and its two-hundred day moving average is $46.77. The company has a market capitalization of $59.53 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion for the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. During the same quarter in the prior year, the company earned $0.78 EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

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.