U.S. Bancorp $USB Stake Decreased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 25.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,637 shares of the financial services provider’s stock after selling 9,315 shares during the period. Prime Capital Investment Advisors LLC’s holdings in U.S. Bancorp were worth $1,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Mufg Bank LTD. bought a new position in U.S. Bancorp in the second quarter valued at $2,680,199,000. Bank of America Corp DE raised its position in U.S. Bancorp by 6.9% during the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after purchasing an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in U.S. Bancorp during the second quarter worth about $536,457,000. Finally, First Trust Advisors LP boosted its holdings in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after purchasing an additional 2,314,081 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $59.96 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $93.42 billion, a PE ratio of 11.69, a P/E/G ratio of 1.13 and a beta of 1.00. The firm has a fifty day simple moving average of $60.37 and a two-hundred day simple moving average of $59.25. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts expect that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.54 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird increased their price objective on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, July 17th. UBS Group dropped their target price on U.S. Bancorp from $66.00 to $64.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price for the company in a research report on Monday, July 20th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $73.00 target price on shares of U.S. Bancorp in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.19.

Insider Buying and Selling at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.