Washington Trust Bank Has $4.39 Million Position in U.S. Bancorp $USB

Washington Trust Bank reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 45.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 90,767 shares of the financial services provider’s stock after selling 76,256 shares during the period. Washington Trust Bank’s holdings in U.S. Bancorp were worth $4,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of USB. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of U.S. Bancorp during the 3rd quarter worth about $26,000. IMG Wealth Management Inc. bought a new position in U.S. Bancorp during the second quarter valued at approximately $25,000. Hillsdale Investment Management Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in U.S. Bancorp in the third quarter worth approximately $31,000. Finally, Pineridge Advisors LLC increased its stake in shares of U.S. Bancorp by 446.2% during the 2nd quarter. Pineridge Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 522 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 on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.5%

USB opened at $55.23 on Friday. The business has a 50 day moving average of $51.07 and a 200-day moving average of $48.54. The stock has a market capitalization of $85.84 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.96 and a beta of 1.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $56.19.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company earned $1.03 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.08 annualized dividend and a yield of 3.8%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the stock a “neutral” rating in a report on Friday, October 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Evercore ISI set a $60.00 price objective on U.S. Bancorp in a research note on Tuesday. DA Davidson upped their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.30.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.