Dorsey & Whitney Trust CO LLC Trims Stake in U.S. Bancorp (NYSE:USB)

Dorsey & Whitney Trust CO LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,379 shares of the financial services provider’s stock after selling 17,354 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in U.S. Bancorp were worth $11,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Focus Financial Network Inc. ADV acquired a new position in U.S. Bancorp during the fourth quarter worth $5,440,000. Morningstar Investment Management LLC lifted its stake in U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after acquiring an additional 74,094 shares in the last quarter. Brookstone Capital Management boosted its holdings in U.S. Bancorp by 2,056.5% during the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after acquiring an additional 208,528 shares during the period. Artisan Partners Limited Partnership grew its position in U.S. Bancorp by 2.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock valued at $137,988,000 after acquiring an additional 76,053 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in U.S. Bancorp during the second quarter worth about $20,188,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 1.7 %

Shares of NYSE USB opened at $45.26 on Tuesday. The business has a 50-day moving average price of $43.53 and a 200 day moving average price of $42.11. The stock has a market cap of $70.63 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.33%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Activity

In related news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on USB. Morgan Stanley lifted their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada increased their price target on U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Citigroup raised their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.23.

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.