Amalgamated Bank Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Amalgamated Bank lessened its holdings in U.S. Bancorp (NYSE:USB) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 383,202 shares of the financial services provider’s stock after selling 8,332 shares during the quarter. Amalgamated Bank’s holdings in U.S. Bancorp were worth $16,585,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CGC Financial Services LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp in the 4th quarter valued at $27,000. Legacy Financial Group LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth $30,000. Finally, Naples Money Management LLC purchased a new stake in U.S. Bancorp in the fourth quarter valued at $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, EVP James L. Chosy sold 21,582 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on USB shares. Oppenheimer cut their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $45.00 price target (down previously from $52.00) on shares of U.S. Bancorp in a research report on Thursday, April 18th. UBS Group decreased their price objective on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 19th. DA Davidson cut 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 report on Thursday, April 18th. Finally, JPMorgan Chase & Co. decreased their price target on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $46.02.

U.S. Bancorp Price Performance

USB traded up $0.45 on Friday, hitting $41.42. 5,091,153 shares of the company were exchanged, compared to its average volume of 8,569,601. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market capitalization of $64.53 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. The business’s fifty day moving average is $42.32 and its 200 day moving average is $40.35.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.85 EPS for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is currently 64.90%.

About U.S. Bancorp

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.