Grandfield & Dodd LLC Sells 39,297 Shares of U.S. Bancorp (NYSE:USB)

Grandfield & Dodd LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 26.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,810 shares of the financial services provider’s stock after selling 39,297 shares during the period. Grandfield & Dodd LLC’s holdings in U.S. Bancorp were worth $4,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock valued at $4,513,127,000 after acquiring an additional 6,479,642 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of U.S. Bancorp by 8.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after acquiring an additional 2,598,163 shares during the period. Norges Bank bought a new position in shares of U.S. Bancorp during the 4th quarter valued at approximately $827,370,000. Van ECK Associates Corp boosted its holdings in U.S. Bancorp by 3.0% in the 1st quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock worth $411,570,000 after buying an additional 265,734 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in U.S. Bancorp by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,190,849 shares of the financial services provider’s stock worth $354,534,000 after buying an additional 315,420 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

USB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a report on Thursday, May 16th. Jefferies Financial Group cut their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Barclays cut their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a report on Friday, June 21st. Finally, StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.84.

U.S. Bancorp Trading Up 2.8 %

U.S. Bancorp stock traded up $1.13 during mid-day trading on Thursday, hitting $41.93. The company’s stock had a trading volume of 9,220,943 shares, compared to its average volume of 8,345,445. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. The stock has a market cap of $65.43 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 3.81 and a beta of 1.04. The business has a 50 day moving average price of $40.15 and a 200-day moving average price of $41.48. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $45.85.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping 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 net margin of 12.13% and a return on equity of 13.93%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 3.83 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed 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 is Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

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.