U.S. Bancorp (NYSE:USB) Stock Position Lowered by First Interstate Bank

First Interstate Bank lessened its position in U.S. Bancorp (NYSE:USB) by 10.4% in the 1st quarter, Holdings Channel reports. The fund owned 7,279 shares of the financial services provider’s stock after selling 849 shares during the period. First Interstate Bank’s holdings in U.S. Bancorp were worth $307,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Westend Capital Management LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $27,000. YANKCOM Partnership lifted its position in U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $30,000. Alpine Bank Wealth Management purchased a new stake in U.S. Bancorp in the 1st quarter worth approximately $30,000. Finally, Millstone Evans Group LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.05 during midday trading on Wednesday, reaching $47.71. The company had a trading volume of 1,647,343 shares, compared to its average volume of 9,369,605. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The company’s 50 day moving average price is $44.00 and its 200 day moving average price is $44.38. The stock has a market cap of $74.33 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.80 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. U.S. Bancorp had a return on equity of 13.02% and a net margin of 15.70%. The business had revenue of $6.96 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the previous year, the business posted $0.78 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 49.50%.

Analyst Ratings Changes

A number of research firms have issued reports on USB. Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $51.00 to $57.00 in a research report on Monday. The Goldman Sachs Group increased their target price on shares of U.S. Bancorp from $41.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Wells Fargo & Company cut their price target on shares of U.S. Bancorp from $56.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Oppenheimer raised their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Cowen assumed coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $51.61.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 5,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the purchase, the director owned 15,000 shares of the company’s stock, valued at approximately $559,800. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.