U.S. Bancorp $USB Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in U.S. Bancorp (NYSE:USB) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947,787 shares of the financial services provider’s stock after selling 279,558 shares during the period. Bank of Montreal Can owned about 0.19% of U.S. Bancorp worth $133,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after acquiring an additional 36,863 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of U.S. Bancorp by 10.3% in the 1st quarter. Strategic Blueprint LLC now owns 5,084 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 473 shares during the last quarter. World Investment Advisors increased its holdings in shares of U.S. Bancorp by 13.5% in the 1st quarter. World Investment Advisors now owns 75,555 shares of the financial services provider’s stock valued at $3,190,000 after acquiring an additional 9,010 shares during the last quarter. HM Payson & Co. increased its holdings in shares of U.S. Bancorp by 224.4% in the 1st quarter. HM Payson & Co. now owns 7,078 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 4,896 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of U.S. Bancorp by 32.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 61,933 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 15,238 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares in the company, valued at approximately $10,607,932.50. This trade represents a 10.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on USB shares. Wells Fargo & Company increased their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. TD Cowen increased their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. Morgan Stanley reiterated a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Citigroup raised their price target on U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial upgraded U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $51.00 to $57.00 in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.55.

U.S. Bancorp Trading Down 0.1%

NYSE:USB opened at $46.66 on Tuesday. The stock’s 50 day moving average price is $48.11 and its 200 day moving average price is $45.65. The company has a market capitalization of $72.61 billion, a PE ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a $0.52 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

U.S. Bancorp 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.