King Luther Capital Management Corp Sells 40,638 Shares of U.S. Bancorp $USB

King Luther Capital Management Corp lowered its position in shares of U.S. Bancorp (NYSE:USB) by 14.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,348 shares of the financial services provider’s stock after selling 40,638 shares during the quarter. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $11,568,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $971,285,000. Davis Selected Advisers lifted its holdings in U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in U.S. Bancorp by 1,589.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,472,252 shares of the financial services provider’s stock valued at $157,119,000 after acquiring an additional 3,266,724 shares during the period. AQR Capital Management LLC increased its holdings in shares of U.S. Bancorp by 354.5% in the second quarter. AQR Capital Management LLC now owns 2,855,350 shares of the financial services provider’s stock worth $129,205,000 after acquiring an additional 2,227,103 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Mark G. Runkel sold 32,195 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the sale, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on USB. Oppenheimer increased their target price on U.S. Bancorp from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. HSBC restated a “buy” rating and set a $62.00 price objective on shares of U.S. Bancorp in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price for the company in a report on Thursday, October 23rd. Argus boosted their price target on U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Barclays increased their price objective on U.S. Bancorp from $56.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.79.

U.S. Bancorp Trading Down 1.5%

U.S. Bancorp stock opened at $57.88 on Friday. The company has a market cap of $89.97 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.05 and a beta of 1.06. The firm has a 50-day moving average of $55.87 and a 200-day moving average of $50.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19.

U.S. Bancorp (NYSE:USB) last released its earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. The business had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. On average, equities analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 45.02%.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.