DekaBank Deutsche Girozentrale Trims Stake in U.S. Bancorp (NYSE:USB)

DekaBank Deutsche Girozentrale cut its position in shares of U.S. Bancorp (NYSE:USB) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 427,241 shares of the financial services provider’s stock after selling 8,229 shares during the period. DekaBank Deutsche Girozentrale’s holdings in U.S. Bancorp were worth $18,682,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in U.S. Bancorp in the first quarter worth $916,000. Cetera Advisors LLC increased its stake in U.S. Bancorp by 160.7% in the 1st quarter. Cetera Advisors LLC now owns 251,828 shares of the financial services provider’s stock worth $11,257,000 after buying an additional 155,246 shares during the period. Cetera Investment Advisers boosted its position in U.S. Bancorp by 125.4% in the 1st quarter. Cetera Investment Advisers now owns 596,655 shares of the financial services provider’s stock valued at $26,670,000 after buying an additional 331,960 shares during the period. Invst LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $776,000. Finally, Dodds Wealth LLC purchased a new position in shares of U.S. Bancorp during the first quarter worth approximately $349,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded down $1.13 during mid-day trading on Friday, hitting $42.35. The stock had a trading volume of 8,485,453 shares, compared to its average volume of 9,838,976. The company has a 50 day moving average of $41.10 and a two-hundred day moving average of $41.59. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $45.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $66.09 billion, a PE ratio of 14.02, a PEG ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $1.12 earnings per share. Research analysts predict that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.63%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average cost 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 $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their price target on U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Finally, Royal Bank of Canada lifted their price objective on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $48.23.

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.