Kessler Investment Group LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,261 shares of the financial services provider’s stock after selling 373 shares during the period. Kessler Investment Group LLC’s holdings in U.S. Bancorp were worth $61,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. HC Financial Advisors Inc. boosted its stake in shares of U.S. Bancorp by 5.2% in the third quarter. HC Financial Advisors Inc. now owns 42,967 shares of the financial services provider’s stock worth $2,269,000 after acquiring an additional 2,143 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of U.S. Bancorp by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 15,961,974 shares of the financial services provider’s stock worth $842,951,000 after acquiring an additional 94,114 shares during the period. CI Investments Inc. boosted its stake in shares of U.S. Bancorp by 2.3% in the third quarter. CI Investments Inc. now owns 915,600 shares of the financial services provider’s stock worth $48,353,000 after acquiring an additional 21,000 shares during the period. Verition Fund Management LLC boosted its stake in shares of U.S. Bancorp by 94.6% in the third quarter. Verition Fund Management LLC now owns 17,674 shares of the financial services provider’s stock worth $933,000 after acquiring an additional 8,594 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of U.S. Bancorp by 19.5% in the third quarter. Advisors Asset Management Inc. now owns 91,044 shares of the financial services provider’s stock worth $4,808,000 after acquiring an additional 14,858 shares during the period. 75.82% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE USB opened at $50.28 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a fifty-two week low of $43.14 and a fifty-two week high of $55.56. The company has a market capitalization of $80.37 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.48 annualized dividend and a dividend yield of 2.94%. U.S. Bancorp’s payout ratio is 36.10%.
In other news, Vice Chairman Leslie V. Godridge sold 14,737 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $51.50, for a total value of $758,955.50. Following the sale, the insider now directly owns 61,737 shares in the company, valued at $3,179,455.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Oppenheimer upped their price objective on U.S. Bancorp from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Robert W. Baird lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Monday, January 28th. Jefferies Financial Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Finally, Barclays upped their price objective on U.S. Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.08.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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