First Long Island Investors LLC Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

First Long Island Investors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,471 shares of the financial services provider’s stock after selling 2,790 shares during the quarter. First Long Island Investors LLC’s holdings in U.S. Bancorp were worth $12,582,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in USB. CGC Financial Services LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $26,000. Planned Solutions Inc. purchased a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $27,000. Naples Money Management LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at $30,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the 1st quarter valued at $30,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock traded up $1.13 during trading hours on Thursday, hitting $41.93. The stock had a trading volume of 9,220,943 shares, compared to its average volume of 8,345,445. The firm has a market capitalization of $65.43 billion, a PE ratio of 13.88, a PEG ratio of 3.81 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.85. The stock’s 50 day moving average is $40.15 and its 200 day moving average is $41.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to the consensus estimate 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 revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, research analysts forecast that U.S. Bancorp will post 3.83 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on USB. UBS Group dropped their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Evercore ISI boosted their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $49.00 in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.84.

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.