Stock Yards Bank & Trust Co. Decreases Holdings in U.S. Bancorp (NYSE:USB)

Stock Yards Bank & Trust Co. reduced its position in U.S. Bancorp (NYSE:USB) by 11.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,491 shares of the financial services provider’s stock after selling 6,307 shares during the period. Stock Yards Bank & Trust Co.’s holdings in U.S. Bancorp were worth $2,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the 1st quarter valued at about $30,000. LRI Investments LLC acquired a new position in U.S. Bancorp during the first quarter worth about $31,000. Eagle Bay Advisors LLC lifted its holdings in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on USB shares. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. Morgan Stanley boosted their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group dropped their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $44.68 on Wednesday. The business has a 50-day moving average of $44.14 and a two-hundred day moving average of $42.25. The firm has a market capitalization of $69.72 billion, a PE ratio of 14.79, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

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

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.